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WASHINGTON, D.C.: Surprising top Wall Street analysts who were braced for a short-term interest rate increase, the Federal Reserve Tuesday opted to leave the rates unchanged. Stocks rose sharply after the news, ending a rollercoaster day that had sent priWASHINGTON, D.C.: Surprising top Wall Street analysts who were braced for a short-term interest rate increase, the Federal Reserve Tuesday opted to leave the rates unchanged. Stocks rose sharply after the news, ending a rollercoaster day that had sent prices down as much as 80 points in the morning with a 74-point Dow advance to 7303. The decision...

Author: /time Magazine | Title: Fed Checks | 5/20/1997 | See Source »

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