BUSI­NESS

Austin American-Statesman - - FRONT PAGE - Dell World: IN­TER­EST RATES THE NA­TION’S GROWTH BUD­GET DEFICIT

The de­ci­sion to keep the 30 mil­lion bar­rel per day quota in­tact in­di­cates the car­tel’s sat­is­fac­tion with crude prices and its re­luc­tance to do any­thing to fur­ther weaken the world econ­omy.

Former Pres­i­dent Bill Clin­ton said he is op­ti­mistic about the fu­ture be­cause tech­nolo­gies can help emerg­ing coun­tries grow faster. The Fed­eral Re­serve said it would keep short-term in­ter­est rates near zero un­til the job­less rate falls be­low 6.5 per­cent. The Novem­ber job­less rate was 7.7 per­cent. The Fed will con­tinue its monthly pur­chases of Trea­sury bonds and mort­gage-backed se­cu­ri­ties. Mem­bers of the Fed’s pol­i­cy­mak­ing com­mit­tee pre­dicted that growth would be slightly slower over the next three years, while un­em­ploy­ment would fall a bit more quickly. The fed­eral government’s bud­get deficit rose to $172 bil­lion in Novem­ber, a sign that the na­tion is on a path to its fifth-straight $1 tril­lion-plus deficit.

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