Fed Reserve chief arrives for work ahead of expected rate raise

Описание: (28 Mar 2006)
1. Exterior of the U.S. Federal Reserve building
2. Federal Reserve sign on building
3. Black Cadillac driving with U.S. Federal Reserve Chairman Ben Bernanke seated in back
4. Cars pass through security, pan to press cutaway
STORYLINE:
Economists predict yet another interest rate hike at the conclusion of Tuesday's meeting at the Federal Reserve in Washington, D.C.
This is the first official meeting for Ben Bernanke, who is the Fed's first new chairman in almost twenty years.
Bernanke is not expected to end the central bank's two-year pattern of increasing rates.
The meeting is expected to produce a one-quarter of a percentage point boost in interest rates.
This would be the 15th consecutive increase since June 2004.
The rate-raising campaign started nearly two years ago under former U.S. Federal Reserve Chairman Alan Greenspan.
Since then, the Federal Open Market Committee has pushed the federal funds rate, the interest that banks charge each other on overnight loans, from a 46-year low of 1 percent to the current level of 4.5 percent.
Analysts are watching Bernanke for signs that a policy change is on the way and that the streak of hikes may be at it's end.

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