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Economists say the unanimous FOMC decision to cut the Federal funds target rate by 50 basis points came as no surprise. Many said the statement is particularly dovish and points to further rate cuts come December 16. The accompanying statement said economic activity had decreased markedly from a decline...
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The most hawkish voting member on the Federal Open Market Committee said on Thursday that it's unclear whether slow growth will moderate inflation into 2009, and said there are even odds that inflation will accelerate from its current level. Dallas Fed President Richard Fisher said it is "very...