Deflation feared as key indicator falls

From: The Milwaukee Journal Sentinel (Milwaukee, WI) | Date: June 14, 2003| Author: | Copyright information

Deflation feared as key indicator falls

Wholesale-cost drop may make Fed act

By JEANNINE AVERSA Associated Press

Saturday, June 14, 2003

Washington -- The threat of national deflation, an economically dangerous long-term slide in prices, rose anew Friday with a second monthly decline in wholesale costs.

The Federal Reserve is expected to shave interest rates this month to guard against possibly worse problems.

Despite growing hopes for an interest rate cut, stocks slid Friday. The Dow Jones industrials closed down 79.43, or 0.9%, at 9117.12 after a three-day advance of 216.55. Broader market ...

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