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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (44607)	9/16/2003 2:14:26 PM
From: IQBAL LATIF	Read Replies (1) of 50167

U.S. stocks rose in light trading on Tuesday, as investors welcomed a report showing slow inflation and waited for the Federal Reserve's latest comments on the economy. Early on Tuesday, the government said U.S. consumer prices rose less than expected in August despite a surge in energy costs, and underlying inflation fell to the slowest annual rate in 37 years. Given the long period of low inflation, the Fed is widely expected to leave interest rates unchanged when it reports on its latest policy meeting at 2:15 p.m. (1815 GMT). However, Wall Street will also closely read the Fed's comments on recent economic growth. "Everyone's in a holding pattern waiting for the Fed," said Tom Schrader, managing director of U.S. equity trading at Legg Mason Wood Walker in Baltimore. "It's a quiet day on Wall Street. The Fed will probably maintain a neutral bias and give some general comments about the economy and how it's strengthening, but not too fast, but everyone's waiting for it just in case."

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