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The FOMC meets today in a one-day meeting. Investors are clearly bracing for a change of language that will leave the “exceptionally low rates for an extended period of time” alone. The pace of the economic recovery has clearly deteriorated in June and into July. The Fed has already used up its quiver on rates and must now address other methods to stimulate the economy. The most likely step is quantitative easing, which many in the financial c... full story >>