AI
Wednesday, October 02, 2002 12:55:37 PM
12:49 ET Fed's Broaddus sounds cautious : Richmond Fed President Broaddus (who is not a voting FOMC member this year) on the tape saying that disinflation is a plausible risk, the labor market recovery is tepid, and the business/consumer mood is pessimistic. But he also notes glimmers of light on the business investment front. This is a relatively negative tone, but the market appears willing to focus more on the positive (possible Fed rate cuts) than the negative (continued economic weakness).
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