EconWatch.com > A Somber Report on the State of the Economy

Redstate - Conservative News and Communityhttp://www.redstate.com/stories/economy/a_somber_report_on_the_state_of_the_economy [Redstate - Conservative News and Community] The Commerce Department reports this morning that the US economy grew at an annual rate of 0.6% in the fourth quarter of 2007. This preliminary estimate (which will be revised twice in coming months) was about half the rate expected by many economists.

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Prime Ratehttp://www.wsjprimerate.us/wsjprimerate/2007/12/odds-on-rate-cut-for-january-30_26.html [Prime Rate] Odds On A Rate Cut for the January 30 Monetary Policy Meeting Now ...: According to the Commerce Department, consumer spending rose by 1.1% during November, the biggest increase in over three years. Great news for the U.S. and global economies, but increased spending also means upwards pressure on prices, and the Fed doesn't want to be forced into raising rates right after completing a rate-cut cycle.

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