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The Economy in Perspective

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"I am extraordinarily patient provided I get my own way in the end."

- Margaret Thatcher

At the conclusion of its January 28 meeting, the Federal Open Market Committee issued a press release stating that it “could be patient in removing its accommodative policy stance.” Stock and bond markets, which had placed heavy odds against such a message, immediately sold off.

Suggested citation: "The Economy in Perspective," Federal Reserve Bank of Cleveland, Economic Trends, no. 04-02, pp. 01, 02.01.2004.

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