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Breitbart Business Digest: The Fed’s Rate Target Won’t Change This Week—But Everything Else Probably Will

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The announcement of the Federal Reserve's interest rate target is likely to be the least interesting thing coming out of this week's Fed meeting.

the economy growing at a 4.9 percent rate

in the third quarter. That’s likely to come down as more data hit the GDPNOW model. But many economists now think we are growing rapidly in the third quarter. J.P. Morgan Chase’s economists are forecasting a 3.5 percent growth rate. The professional forecaster survey had us growing at a 1.9 percent rate at its last release, which was all the way back in August. The New York Fed’s newly revived nowcast sees the economy growing at a 2.3 percent pace.

The Fed’s formal target for its benchmark rate is probably going to remain unchanged. Everything else, however, is due for

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