Full text of U.S. Financial Data : December 21, 2000
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December 21, 2000 USFinancialData THE WEEK’S HIGHLIGHTS: s The Federal Open Market Committee met on Dec. 19 and decided to leave its target for the federal funds rate unchanged at 6.5 percent. In announcing this decision, the FOMC released the following statement: The drag on demand and profits from rising energy costs, as well as eroding consumer confidence, reports of substantial shortfalls in sales and earnings, and stress in some segments of the financial markets suggest that economic growth may be slowing further. While some inflation risks persist, they are diminished by the more moderate pace of economic activity and by the absence of any indication that longer-term inflation expectations have increased. The Committee will continue to monitor closely the evolving economic situation. [T]he Committee consequently believes that the risks are weighted mainly toward conditions that may generate economic weakness in the foreseeable future. s According to the final estimate, real GDP grew at a revised 2.2 percent annual rate during the third quarter. The final estimate is 0.2 percentage points less than the preliminary estimate and 0.5 percentage points below the advance estimate. s November housing starts were at an annual rate of 1,562,000 units, 2.2 percent more than October’s rate but 6.1 percent less than a year earlier. United States Financial Data will not be published next week. All data are seasonally adjusted unless otherwise indicated. U.S. Financial Data is published weekly by the Research Division of the Federal Reserve Bank of St. Louis. For more information on data, please call (314) 444-8590. To be added to the mailing list, please call (314) 444-8808 or (314) 444-8809. Information in this publication is also included in the Federal Reserve Economic Data (FRED) electronic bulletin board at (314) 621-1824 or internet World Wide Web server at www.stls.frb.org/fred.