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Sunday, December 2, 2007

Fed Likely to Cut Rates, But How Much Is Unclear

November 30 2007

Fed Chairman Ben Bernanke’s latest analysis of the weakening economy makes another interest rate reduction at the Dec. 11 policy meeting a near certainty, say economists, but the size of that cut is very much up in the air. That will be depend on the nature of key economic data for the month of November due out the week ahead of the FOMC meeting. The ISM index of manufacturing activity, as well as nonfarm payroll and unemployment data, are critical.

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