A Summer Break for the Fund Rally?
As summer picked up steam, the stock rally cooled. With conflicting reports on the economy's health, stocks ended June with slight gains, a sharp contrast to the healthy advances posted in the prior two months. To spur stronger, steady economic growth and ward off deflation, the Federal Reserve lowered the key Fed funds interest rate on June 25 by 25 basis points, to a 45-year low of 1%.
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