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To: pater tenebrarum who wrote (38968)	2/3/2000 5:19:00 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 99985

FOCUS-Fed held rates steady in Dec. but saw inflation risks By Marjorie Olster WASHINGTON, Feb 3 (Reuters) - The Federal Reserve kept U.S. interest rates steady in December out of concern the Y2K computer bug might upset financial markets, but it saw strong economic momentum heading into the new year and risks of higher inflation, minutes of the meeting released on Thursday said. Though there appeared to be no moderation in the rapid pace of U.S. growth, the Fed felt it could afford to wait until the Feb. 1-2 meeting to consider higher rates because inflation was relatively subdued. They raised rates on Wednesday. ''The economy clearly would carry substantial expansionary momentum into the new year, quite possibly in excess of growth in the economy's long-run potential,'' the minutes of the Dec. 21 Federal Open Market Committee meeting said. biz.yahoo.com