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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: Kenneth E. Phillipps who wrote (80773)10/27/2006 9:45:48 AM
From: tonto  Read Replies (3) of 173976
 
Still, stock futures and bond prices both rose on the news, as investors were pleased by a price reading in the report that showed less inflation pressures than expected. The so-called core PCE deflator, a measure of prices paid by consumers for goods other than food and energy, climbed at a 2.3 percent rate in the quarter, down from 2.7 percent in the second quarter.

The drop in the inflation gauge and the slowdown in economic growth cheered those investors who are hoping the Federal Reserve will cut interest rates early in 2007. The Fed has cited the slowing economy as it's held rates steady at its last three meetings, following 17 straight rate hikes over the previous two years.

"This is a market-friendly number," said Anthony Chan, chief economist for JPMorgan Private Client Services. "It certainly extinguishes much of the chatter going on from some Fed officials about a rate hike or an indefinite pause."
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