The Federal Reserve's Open Market Committee today is beginningits regularly scheduled two-day meeting to assess the state of theeconomy and decide whether to adjust interest rates.
|The panel, which consists of all the Fed's governors and five ofthe 12 presidents of the Fed's regional banks, meets eight times ayear to set policy. It will announce its decision tomorrowafternoon.
|The Federal Funds Rate-the rate depository institutions chargeother depository institutions to borrow funds they have on depositat the Fed and a rate used as a basis for other interest ratedeterminations-has been between 0 and 0.25% since December2008.
|Federal Reserve Chairman Ben Bernanke, who was appointed to thepost by President Bush, chairs the panel.
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