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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who started this subject11/21/2003 2:06:49 PM
From: j-at-home  Read Replies (2) of 436258
 
Ferguson: Fed not likely to change inflation view soon By
2:00pm 11/21/03

Rachel Koning
CHICAGO (CBS.MW) -- There is some risk that the upturn in U.S. consumer spending was the result of temporary factors such as tax cuts and auto incentives, which in turn could limit business investment and hiring, Federal Reserve Vice Chairman Roger Ferguson said Friday. "The risk that the recovery will again stall out must be given a smaller probability than that assigned just a few months ago, but the risk cannot be discounted completely," Ferguson said in prepared remarks to the Executives' Club of Chicago. He said that inflation is more likely to decline than to rise in current circumstances, leaving the Federal Reserve "the luxury to monitor events before it has to confront the need to return the stance of policy to a neutral position."


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Ferguson picks up the ball from Guynn
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