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Wall Street sees September rate cut as sure thing — CPI inflation data will
have much to say about what comes next
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Stock-market bulls are counting on Federal Reserve rate cuts. Inflation
data still has a lot to say about what policymakers can deliver.
2 hours ago
The ratings agencies warned that a deal to cut $4 trillion would only be a good start to averting an eventual downgrade of our bond rating, but negotiators didn’t come close. The stock market lost all its gains for 2011 in the longest string of low closings since 2008 this week because bleak economic news — a drop in consumer spending, worse-than-projected 1.3 percent growth and fears of continued high unemployment as the July jobs numbers are released this Friday — was compounded by the federal government once again refusing to truly attack its debt. Experts know the Super-Dupe Committee won’t change this equation, and a true fix is at least two years away.
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