Recovery may take longer than hoped

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As the economic data surfaced in June, rounding out second-quarter information, it became apparent t...

As the economic data surfaced in June, rounding out second-quarter information, it became apparent the rapid growth experienced in the first quarter was not going to be repeated. But economy watchers will note that some analysts are predicting 3% growth for the second quarter. If true, first-half US growth will have made an impressive mark, especially as the financial markets attempt to get past the current period of wavering confidence in corporate America. During June, the Fed left short-term interest rates unchanged, maintaining the federal funds target rate at 1.75%, the lowest leve...

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