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Tuesday, December 12, 2006

FOMC : Statment almost unchanged

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Core inflation 'elevated', still expected to moderate; keeps wording that 'some inflation risks remain'.

"The extent and timing of any additional firming that may be needed to address these risks will depend on the evolution of the outlook."

Also says "recent indicators have been mixed" and notes substantial housing cooling; but then reiterates "the econ seems likely to expand at a moderate pace" ahead.

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