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US Fed begins meeting against weaker backdrop

06-23-2010 14:10 BJT

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The U.S. Federal Reserve began a two-day meeting on Tuesday. It's expected to restate its intention to keep interest rates on hold near zero for "an extended period", and perhaps offer a less upbeat outlook for the economy.

Europe is likely to be a key focal point in the Fed's discussions, as policymakers assess the extent to which the continent's debt troubles and its negative effects on credit markets might impact the U.S.

At the same time, low inflation and other soft U.S. data, including an unexpected slump in existing home sales, may also reinforce the U.S. central bank's commitment to keeping rates low for a long time.

Editor:Xiong Qu |Source:

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