The Fed Sticks to Its Guns

With a quarter point rate hike under his belt, Chairman Bernanke doled out a bit more information and set expectations for growth

At his first policy meeting as Federal Reserve Chairman, Ben Bernanke picked up where Alan Greenspan left off. At the close of the Mar. 27-28 gathering of the central bank's rate-setting arm, the Federal Open Market Committee, the new Fed chief orchestrated a 15th consecutive quarter point tightening of the Fed funds target rate, to 4.75%.

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