The fed has a target rate of 3%. Correct me if I'm wrong, but are these meetings regarding FOMC enforcement of rates?
They have these meetings but read the text on what this one is about. " Review and determination by the Board of Governors of the advance and discount rates to be charged by Federal Reserve Banks." Shorts not going to sleep well
Agency: Board of Governors of the Federal Reserve System Time, date: 11:30 a.m., Monday, March 3, 2008 Place: Marriner S. Eccles Federal Reserve Board Building, 20th and C Streets, N.W., Washington, D.C. 20551 Status: Closed Matters to be Considered: 1. Personnel actions (appointments, promotions, assignments, reassignments, and salary actions) involving individual Federal Reserve System employees. 2. Any items carried forward from a previously announced meeting. For more information please contact: Michelle Smith, Director, or Dave Skidmore, Assistant to the Board, Office of Board Members at 202-452-2955.
Look at the Feb 19 one. It said the same thing, and there was no cut on that date. http://www.federalreserve.gov/boarddocs/meetings/2008/20080219/advancedexp.htm