Further rate cut unlikely this year in US

Federal Reserve officials are putting out the word that further interest rate cuts are unlikely from various platforms.

Fed Governor Kevin Warsh was forthright, ""Even if the economy were to weaken somewhat further, we should be inclined to resist expected, reflexive calls to trot out the hammer again,"

Fed Vice Chairman Donald Kohn, said the current stance of interest-rate policy "appears to be appropriately calibrated for now."

Janet Yellen, president of the Federal Reserve Bank of San Francisco, called the current level of rates "appropriate."

That does not mean the economy, very badly bruised by housing, credit and financial woes, is out of the woods.

The Fed, though, is hoping its powerful doses of cuts, along with the government's relief plan of tax rebates and breaks will help lift the economy in the second half of this year.

Many economists believe the Fed will hold its key rate steady at 2 percent, a four-year-low, at its next meeting on June 24-25 and probably in the entire 2008.

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