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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: Mike Johnston	3/17/2008 11:21:59 AM
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11:06 =DJ FED WATCH: Cadre Of Key Banks Argue For 100 Basis Point Cut By Michael S. Derby A DOW JONES NEWSWIRES COLUMN NEW YORK (Dow Jones)--A notable group of top economists expect the Federal Reserve's blunderbuss approach to saving financial markets will be a joined by another bold salvo Tuesday - a 100 basis point cut in the central bank's overnight target rate. Several big name investment banks, among them Goldman Sachs (GS) and Citigroup (C), believe that central bankers will lower what's now a 3% overnight target rate to 2%. If the economists are right, the rate cut would represent another radical move for Chairman Ben Bernanke. Since making its rate moves public, the Fed has never taken such a large step.

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