U.S.: Be Patient, Investors. The Fed Certainly Is

Policy decisions are on hold until the labor market loosens up

Prior to the Federal Reserve's Nov. 15 policy meeting, many investors were looking for signs that Greenspan & Co. were thinking about cutting interest rates. Judging by the Fed's statement after the meeting, some of that anticipation was obviously wishful thinking. The Fed said that the possible inflation threat from tight labor markets and higher oil prices was still too great for it to relax its guard just yet.

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