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Fomc Statement

Fomc Statement

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US RATE FUTURES-Futures dip briefly on FOMC statementWed Jun 24, 2009 2:27pm EDT�Email | Print | Share | Reprints | Single Page [-] Text [+] CHICAGO, June 24 (Reuters) - U.S.

short-term interest rate futures fell briefly on Wednesday after the Federal Reserve vowed to keep rates low for an extended period but removed a reference to the risks of deflation.

The implied chance for the Fed to raise interest rates before year-end rose to 58 percent from 44 percent earlier, but quickly fell back again.

The Federal Open Market Committee, following its policy meeting, removed a warning that inflation rates could be undesirably low, and looked for a "gradual" recovery in economic activity.

(Reporting by Ros Krasny; Editing by Leslie Adler)
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