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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: yard_man who wrote (12740)	10/4/2004 10:28:39 AM
From: mishedlo	Read Replies (1) of 116555

Santomero: Fed still has way to go to neutral stance Monday, October 4, 2004 2:15:26 PM PHILADELPHIA (AFX) -- Federal Reserve monetary policy remains stimulative even though three rate hikes since June has brought the Fed funds rate to 1.75%, said Anthony Santomero, the president of the Federal Reserve Bank of Philadelphia. "I don't think we are yet at neutral," Santomero said. "We will have to evaluate how the economy evolves from here to try to figure out how to proceed, but my suggestion to you is that we still have a way to go," Santomero told reporters after a speech here. Fed officials have said their goal is to move rates toward a "neutral" level, where rates are neither boosting nor inhibiting economic growth.

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