The National Association of Manufacturers called on the United States Federal Reserve to cut
key interest rates in order to stimulate the sector.
Tim Timken, Chairman of the National Association of Manufacturers said, "...it is
absolutely essential that the Federal Reserve move promptly from its current
tightening bias to a neutral bias in December and consider cutting rates by 25
basis points next year."
Slowing industrial production and demand, along with higher energy prices and a
weakening Euro, have all conspired to give the manufacturing sector of the
economy a very hard time recently.
The NAM is concerned that continued pressures like that mean the U.S. economy
is in for a hard landing from its 10-year expansion.
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- by Bruce A. Carr
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