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Reuters Right Now: Fed eyes Sandy for shrinking Q4 GDP

Thursday, 31 Jan, 2013 - 01:13

The Fed blames one-off factors like Sandy for the U.S.' recent economic contraction following its latest policy decision, according to Reuters Fed Correspondent Pedro Da Costa.

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I'm here at the treasury press room where the Federal Reserve has just released its January policy decision. The Fed has said it's keeping in place it's 85 billion dollar monthly stimulus in the -- asset purchases. No massive changes in the statement the Fed did acknowledge that there's been a policy and economic activity of course we saw this morning GDP numbers. Turning slightly negative in and raise some eyebrows. So the Fed acknowledged that trend at Harvard attributed that you largely transitory factors including potentially impact of -- insanity. I fed also characterized business investment is speaking out somewhat. And extend it financial risks around the world had diminished -- nonetheless that's that is still worried that without. This kind of extra support from the monetary side of the economy will continue to. To flag so it maintain the 85 billion dollars a month and in purchases and really didn't offer any here distant. When it might begin to why -- -- best that mixing -- -- your interest and figuring out. And of course let's -- the circuit that speakers for Rupert who is the -- it possible. As possible and to our buys right now investors see them asking at least until the end of the current year. -- Pedro Costa and this has orders.

Reuters Right Now: Fed eyes Sandy for shrinking Q4 GDP

Thursday, 31 Jan, 2013 - 01:13

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