FOMC Members Enjoy Coffee, Donuts, Each Others' Company

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That is all.

The Federal Reserve, still uncertain that the American economy can grow unaided, announced Wednesday it will press ahead with its stimulus campaign of asset purchases and low interest rates.

The statement contained no surprises, and the stock market edged slightly lower. The Fed was widely expected to continue adding $85 billion a month to its portfolio of Treasury securities and mortgage-backed securities, particularly in the aftermath of the disruptive partial shutdown of the federal government in the first half of October….

The decision was supported by nine of the committee’s 10 voting members. Esther L. George, the president of the Federal Reserve Bank of Kansas City, dissented as she has done at each meeting this year, citing her concerns that Fed policy may destabilize financial markets and lead to higher inflation.

Fed Maintains Stimulus, Awaiting Sustainable Growth [NYT]

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