Stocks Open Higher Ahead Of Fed Decision |
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Wed, 21 Mar 2007 14:52
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NEW YORK (AP) - Stocks opened moderately higher Wednesday as investors treaded water ahead of the Federal Reserve's latest take on the economy, which could signal where interest rates are headed.While Wall Street largely expects the Fed will leave short-term interest rates unchanged at 5.25 percent, investors are eager to learn whether the central bank will reveal a shift in its assessment of the economy. The Fed has remained vigilant about the threat of inflation, which it has said remains stubbornly high. However, a softening economy could quell the threat of inflation and, some investors are hoping, open the way for a rate cut.The Fed left interest rates unchanged at its last five meetings after a string of 17 straight increases that began in 2004.In the first minutes of trading, the Dow Jones industrial average rose 5.61, or 0.05 percent, to 12,293.71.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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WALL STREET OUTLOOK Slightly higher in cautious trade ahead of Fed rate decision 