Stocks Decline as Tepid Growth Combines With Fed Jitters
NEW YORK ( TheStreet) -- Major U.S. stock averages on Friday retreated after tepid industrial output and consumer sentiment reports dampened investor sentiment ahead of next week's Federal Reserve policy statement.
"I think that fake rally of yesterday was predicated on yet another rumor about what
While many investors are sharply focused and anxious about what the Fed might reveal about future tapering plans next week, Ethan Harris, co-head of global economics research at Bank of America, said earlier this week that the U.S. central bank would really only begin to taper after strong, sustained evidence that the economy is on solid ground. But even then, the Fed wouldn't suddenly go from $85 billion of monthly bond purchases to zero."The Fed will make it
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