Federal Open Market Committee raise funds rate by 25 basis points

The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 2-3/4 percent.

The Committee believes that, even after this action, the stance of monetary policy remains accommodative and, coupled with robust underlying growth in productivity, is providing ongoing support to economic activity. Output evidently continues to grow at a solid pace despite the rise in energy prices, and labor market conditions continue to improve gradually. Though longer-term inflation expectations remain well contained, pressures on inflation have picked up in recent months and pricing power is more evident. The rise in energy prices, however, has not notably fed through to core consumer prices.

The Committee perceives that, with appropriate monetary policy action, the upside and downside risks to the attainment of both sustainable growth and price stability should be kept roughly equal. With underlying inflation expected to be contained, the Committee believes that policy accommodation can be removed at a pace that is likely to be measured. Nonetheless, the Committee will respond to changes in economic prospects as needed to fulfill its obligation to maintain price stability.

Voting for the FOMC monetary policy action were: Alan Greenspan, Chairman; Timothy F. Geithner, Vice Chairman; Ben S. Bernanke; Susan S. Bies; Roger W. Ferguson, Jr.; Edward M. Gramlich; Jack Guynn; Donald L. Kohn; Michael H. Moskow; Mark W. Olson; Anthony M. Santomero; and Gary H. Stern.

In a related action, the Board of Governors unanimously approved a 25-basis-point increase in the discount rate to 3-3/4 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, and San Francisco.

Release Date: March 22, 2005 For immediate release SOURCE: 2005 Monetary policy

SCHIAVO, ELEVENTH CIRCUIT, Docket No. CV-05-00530-T

IN THE UNITED STATES COURT OF APPEALS FOR THE ELEVENTH CIRCUIT No. 05-11556 D. C. Docket No. CV-05-00530-T, FILED U.S. COURT OF APPEALS ELEVENTH CIRCUIT March 23, 2005 THOMAS K. KAHN CLERK

THERESA MARIA SCHINDLER SCHIAVO, incapacitated ex rel, Robert Schindler and Mary Schindler, her parents and next friends, Plaintiffs-Appellants,

versus

MICHAEL SCHIAVO, as guardian of the person of Theresa Marie Schindler Schiavo, incapacitated, JUDGE GEORGE W. GREER, THE HOSPICE OF THE FLORIDA SUNCOAST, INC., Defendants-Appellees.

Appeal from the United States District Court for the Middle District of Florid (March 23, 2005)

Before CARNES, HULL, and WILSON, Circuit Judges. PER CURIAM:

Plaintiffs have appealed the district court’s denial of their motion for a temporary restraining order to require the defendants to transport Theresa Marie Schindler Schiavo to a hospital to reestablish nutrition and hydration and for any medical treatment necessary to sustain her life, and to require the state court judge defendant to rescind his February 25, 2005 order directing removal of nutrition and hydration from Schiavo and to restrain him from issuing any further orders that
would discontinue nutrition and hydration. After notice and a hearing, the district 1 court entered a careful order which is attached as an Appendix to this opinion. Plaintiffs have also petitioned this Court to grant the same injunctive relief under the All Writs Act, 28 U.S.C. § 1651(a).

Although we ordinarily do not have jurisdiction over appeals from orders granting or denying temporary restraining orders, in circumstances such as these, “when a grant or denial of a TRO might have a serious, perhaps irreparable, consequence, and can be effectually challenged only by immediate appeal, we may exercise appellate jurisdiction.” Ingram v. Ault, 50 F.3d 898, 900 (11th Cir. 1995) (internal citations, marks, and ellipsis omitted); see also United States v. Wood, 295 F.2d 772, 778 (5th Cir. 1961). In these circumstances we treat temporary restraining orders as equivalent to preliminary injunctions or final judgments, either of which are appealable. See 28 U.S.C. §§ 1291 & 1292(a)(1). FULL TEXT In PDF Format Docket No. CV-05-00530-T