Fed Expected to Release Interest Rate Forecast This Week

Submitted by aolson on Tue, 01/24/2012 - 11:03

The Federal Reserve's Open Market Committee's first meeting of the year begins today and it's expected to turn its attention back to the nation's slow economy and disclose more details about a plan to keep interest rates low through mid-2013, the Washington Post reports.

Members of the committee will being disclosing their projections for federal funds rates at quarterly intervals, beginning this month, along with forecasts for federal funds target rate increases. Releasing plans to keep interest rates low could drive those rates down even more, spurring lending and economic activity, the Post said.

The increased communication is part of Chairman Ben S. Bernanke's plan to improve transparency, the New York Times reported yesterday. The Fed's first forecast will be published later this week, following the committee's two-day meeting.

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