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The Federal Reserve is almost sure to cut interest rates again.(THE ECONOMY)
Kiplinger Letter, The, February, 2008
The Federal Reserve is almost sure to cut interest rates again.
There's little doubt after the dismal Jan. report on jobs... a net loss of 17,000. There was some consolation in the Dec. revision, a bump-up from the previously reported gains of 18,000 to 82,000. The Dec. job number confirmed other signs of weakness in the economy, notably a meager 0.6% gain in gross domestic product in the last quarter.
The next drop in rates will come by March 18, when policymakers are set to meet again. The size of the cut will depend on newer data. By midyear, we see the federal funds rate at 2.5%, down from 3% today.
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