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Fed Rate Action Commentary From Swiss Re Chief US Economist.

Publication: PR Newswire
Publication Date: 30-JUN-04
Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK, June 30 /PRNewswire/ -- Following today's announcement that the Federal Reserve Board would raise the target federal funds rate 25 basis points to 1.25 percent, Swiss Re chief economist Kurt Karl said, "Strong growth in the US economy coupled with a rise in inflation has induced the Fed into tightening monetary policy. This is the first in many rate hikes, which will likely take the federal funds rate to 2.25 percent at the end of this...

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