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Happy days not quite here again for Fed still wary of zero rates

In the absence of strong growth, a recession in the next three years may send the policy rate straight back to zero


THINGS are looking up. US growth forecasts are on the rise, employers continue to add jobs without stressing inflation, and consumer and business sentiment have bounced impressively.

But don't get too excited. Recoveries don't last forever, and whenever this one comes to...

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