Wednesday, May 9, 2007

U.S. Stocks Erase Gains; Fed Cites Inflation Concern in Rate Announcement

(Bloomberg) -- U.S. stocks erased their gains after the Federal Reserve left interest rates unchanged and said inflation remains the main risk to the economy.

The central bank's Federal Open Market Committee held its target rate for overnight loans between banks at 5.25 percent for a seventh meeting, matching the estimates of all 101 economists surveyed by Bloomberg.


Read more at Bloomberg Stocks News

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