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As expected, the central bank lowered the key interest rate by one-quarter percentage point, to 2 percent. But this could be it for a while. A statement accompanying the announcement talked about the impact of cumulative rate cuts, which Fed watchers say is a sign that there's little sentiment to go any further. Plus, there is plenty of concern about inflation. (NYT, WSJ)
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Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.