Summary: As expected, the Federal Open Market Committee decided on Wednesday to hold the Federal Funds rate steady at 5.25%, where it's been since June of 2006. In other reports, 4th quarter 2006 GDP grew at 3.5% and employment costs held steady. Consumer confidence remains high despite the continuing slump in housing. The Dow Jones Average set a record-high on Thursday of 12,674 before falling 21 points today to 12,653. The 30-year mortgage rate remained steady for the week at 5.85%.
Read the full report here.
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