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

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To: zonder who wrote (15912)	11/16/2004 10:16:34 AM
From: mishedlo	Read Replies (1) of 116555

Fed´s Moskow: More ground to cover to get to neutral Tuesday, November 16, 2004 2:16:31 PM afxpress.com Fed's Moskow: More ground to cover to get to neutral CHICAGO (AFX) -- The Federal Reserve will continue to raise U.S. interest rates to return to "neutral" monetary stimulus. But because inflation remains moderate, the Fed can continue to do so at a measured pace, said Michael Moskow, president of the Chicago Federal Reserve in a speech Tuesday. "There is certainly more ground to cover," he said. "But given the low level of inflation, well-contained inflationary expectations, and the remaining slack in the economy, we believe we can remove the remaining policy accommodation at a pace that is likely to be measured." The biggest unknowns facing the Fed are sporadic job growth and high energy prices, he said. But while expensive oil has cut into spending, its lasting impact has been limited. Energy prices also have not translated into higher inflation expectations, Moskow said

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