Dollar’s Fall Could Be Limited As Fed Signals Rate Pause |
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The Fed has given us a bleak prognosis of the US economy as can be seen from the minutes of the FOMC meeting on April 29/30. Here are some downbeat forecasts: the Fed cut its forecast for economic growth to 0.3% - 1.2% in 2008, a far cry from its earlier projection of 1.3% - 2%. Not only that, Bernanke and colleagues expect the unemployment rate “to pick up further this year and to remain elevated in 2009″. According to the minutes, the decision to cut interest rates by 25 basis points was “a
Filed under: Fundamental
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