The Federal Reserve on Wednesday held rates, upgraded its assessment of the US economy and highlighted its plan to shut down most of its special liquidity facilities in early 2010. The move came ahead of Thursday’s Senate banking committee vote on Ben Bernanke’s nomination for a second term as Fed chairman, which is expected to endorse Bernanke but could show a high number of dissents. The Fed said it would close its existing currency swap lines with foreign central banks by Feb 1, and terminate most of its special domestic liquidity programmes on that date. More on FT Alphaville.

This entry was posted by Gwen Robinson on Thursday, December 17th, 2009 at 5:25 and is featured in The 6am Cut London (17 Dec 2009) . Tagged with federal reserve. Edit this entry.