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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: yard_man who wrote (4486)4/16/2004 11:00:19 AM
From: mishedlo  Read Replies (2) of 116555
 
Broaddus says Fed to look for confirmation on economy

WASHINGTON (CBS.MW) -- Richmond Federal Reserve Bank president J. Alfred Broaddus said that more confirmation that the U.S. economy is on a strong growth path is needed before the central bank should consider hiking interest rates. "I think there is a period when we want confirmation," Broaddus told reporters after a speech in Cambridge, Md. He said there was "still a limited amount of information" that suggests the economy is strong and that inflation may be bottoming out. The Federal Reserve can "wait at least a little longer before we make judgments," he said. Broaddus also said he would focus closely on upcoming inflation data to see if there is any "inflation upcreep." Earlier, Broaddus said in his address that the U.S. economy is "still some distance" from experiencing an upturn in inflation.
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