Money and Financial Markets
Despite the Federal Open Market Committee’s aggressive three percentage-point reduction in the intended funds rate since January, hopes for an incipient resurgence in economic activity appear to be slipping. Mixed signals from incoming data, which fail to confirm a broad rebound in economic activity, are fostering greater uncertainty about the timing of the expected upturn. While consumer and housing sectors have held up surprisingly well and inventories have been worked down, financial markets have been listless over the summer months.
Suggested citation: "Money and Financial Markets," Federal Reserve Bank of Cleveland, Economic Trends, no. 01-09, pp. 05-07, 09.01.2001.