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Fed has no more excuses, after third-quarter GDP shows best growth in 2 years
Stronger-than-expected economic growth smooths the path for the U.S. Federal Reserve to signal a December interest rate hike when it meets next week. Third quarter GDP growth of 2.9 percent was better than the 2.5 percent that was expected by economists, and it also marked the best pace of growth in two years. With Friday's report, the economy closes in on the 3 percent level some economists had expected to see for the second half of the year. "Most immediately important is this leaves the door wide open for the Fed to raise rates. They should do it and could do it next week, but they won't," said Jefferies Chief ... (full story)
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