Today's Fed Statement, Sees in Housing Tentative 'stabilization'

Housing's obviously testing the economy-tinkering skills of the nation's central bankers. The Fed's interest-rate policy committee did nothing today. No surprise! They've kept the benchmark Fed Funds rate at 5.25% since June, after ramping it up from its cyclical low of 1% before June 2004.

See this snippet of the Fed's post-meeting comments from today:
"Recent indicators have suggested somewhat firmer economic growth, and some tentative signs of stabilization have appeared in the housing market. Overall, the economy seems likely to expand at a moderate pace over coming quarters."

Crossing Wall St.: Core inflation has now "improved modestly," where last month it was "elevated." With Jeffrey Lacker off the committee, the vote was unanimous.

For the fifth meeting in a row, the Federal Reserve does nothing: To read the entire Fed statement, CLICK HERE & Fed Holds Again PARSING THE FED from the WSJ

From MarketWatch: GDP surges at 3.5% rate in fourth quarter