Monday, August 9, 2010

Fed set to downgrade outlook for US

We wait with bated breath for Wednesdays Fed Statement.

By James Politi in Washington Full article in Financial Times (click heading above)

Published: August 8 2010 19:15 | Last updated: August 8 2010 19:15

"The Federal Reserve is set to downgrade its assessment of US economic prospects when it meets on Tuesday to discuss ways to reboot the flagging recovery.

Faced with weak economic data and rising fears of a double-dip recession, the Federal Open Market Committee is likely to ensure its policy is not constraining growth and to use its statement to signal greater concern about the economy. It is, however, unlikely to agree big new steps to boost growth."

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