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Atlanta Fed: rate hikes not over
After 11 rate hikes, the Federal Reserve still has "a ways to go" in removing monetary accommodation, Atlanta Fed President Jack Guynn told Reuters. A nonvoting member of the Federal Open Market Committee the past year, Guynn said if the Fed had decided Sept. 20 not to hike rates -- as some expected after the hurricanes -- the move could have been misread as the Fed's having less long-term confidence in the economy or backing away from its focus on fighting inflation.
** The Treasury Dept. named David Loevinger a permanent economic attache to Beijing. Finance ministers, including Treasury Secretary John Snow, and central bank governors from G-20 countries are scheduled to meet in China on Oct. 15-16.
Japan business optimism misses
The widely watched tankan survey of confidence for large manufacturers rose to 19 in Sept. vs. 18 in June, said the Bank of Japan. But the reading missed forecasts of 20, probably due to higher energy and other ...