Capital Gold Group Report: BREAKING NEWS - FED VOTE TO LEAVE RATES UNCHANGED IS UNANIMOUS

Sept. 16, 2008

The Federal Reserve held interest rates steady, and in a disappointment to Wall Street, didn't appear to signal that rate cuts are forthcoming anytime soon. Though officials continued to warn about inflation risks, they also signaled that economic concerns have intensified. 

In its statement, the Fed said: "Strains in financial markets have increased significantly and labor markets have weakened further. Economic growth appears to have slowed recently, partly reflecting a softening of household spending. Tight credit conditions, the ongoing housing contraction, and some slowing in export growth are likely to weigh on economic growth over the next few quarters."

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