Manufacturing Industry
The Federal Reserve changed its rhetoric.(Economy: how supply managers see high-tech business)(Brief Article)
Purchasing, February, 2004
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* The Federal Reserve changed its rhetoric in a January statement from the Federal Open Market Committee (FOMC), which sets monetary policy. While the average lay reader may find it impossible to discern a distinction between "policy accommodation can be maintained for a considerable period" (December) and "the Committee believes it can be patient in removing its policy accommodation" (January), the mere fact of a wording change was enough to convince forecasters that the Fed is planning an interest rate hike for spring.
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