PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Kenneth E. Phillipps who wrote (508364)	12/12/2003 12:01:18 PM
From: Hope Praytochange	Read Replies (2) of 769668

The Fed on Tuesday held overnight borrowing costs at a 1958 low of 1 percent and said low inflation and lots of economic slack mean rates could stay down for ``a considerable period.'' Minutes from a Fed meeting in October released on Thursday showed policy-makers expected inflation to stay under wraps through 2004 and possibly beyond. Wholesale energy prices fell a sharp 1.2 percent last month, the biggest decline since May, as gasoline dropped 4.8 percent. Prices for natural gas and heating oil also fell. Food prices also moved lower as a sharp upward spike in beef and veal prices in October was partially reversed. nytimes.com

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