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Politics : Formerly About Advanced Micro Devices

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To: combjelly who wrote (252101)	9/20/2005 3:51:11 PM
From: tejek	Read Replies (1) of 1572310

Can't say this is one of Greenspan's finer moments..........I think Katrina will slow the economy considerably and that more interest rate hikes are unnecessary. Fed Raises Rates Again, Calling Storm a Near-Term Setback By EDMUND L. ANDREWS Published: September 20, 2005 WASHINGTON, Sept. 20 - Saying that the devastation caused by Hurricane Katrina was unlikely to pose a "persistent threat" to the economy, the Federal Reserve raised short-term interest rates this afternoon for the 11th time in a row and signaled that more rate increases are likely in the months ahead. Text of Fed Statement Though the central bank acknowledged that the hurricane and higher energy prices would probably lead to slower growth and more joblessness over the next few months, it said financial conditions still appeared to support economic growth. At the same time, it left little doubt that its top priority was to head off inflation and it explicitly warned that the recent run-up in energy prices could increase inflationary pressures. continued......... nytimes.com

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