PM update (2):
No change on rates, initial drop, but they buy 1179.25 support. Waiting to see what bonds do, for now they are still bidding. Watch 1185.
No change on rates, initial drop, but they buy 1179.25 support. Waiting to see what bonds do, for now they are still bidding. Watch 1185.
Sept. 16 (Bloomberg) -- The Federal Reserve left its main interest rate at 2 percent, rebuffing calls by some investors for a cut after Lehman Brothers Holdings Inc.'s bankruptcy shook markets worldwide.
``Downside risks to growth and the upside risk to inflation are both of significant concern,'' the Federal Open Market Committee said in a statement in Washington. ``The committee will monitor economic and financial developments carefully and will act as needed to promote sustainable economic growth and price stability.''
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