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It's the Economy

The Fed is expected to announce later today that it won't take any action on interest rates, but its policy statement will be scrutinized, reports CNBC's Patti Domm.  More big earnings reports are due today, including Boeing and General Motors.

A nonpartisan survey being released today will show that the "rising cost of healthcare is cutting into the ability of a growing number of Americans to save for retirement," the Financial Times reports.  "The survey, conducted by the Employee Benefit Research Institute, a non-partisan research group, said that 36 per cent of Americans have reduced the amount they salt away for retirement because of the burden of greater healthcare costs.  That figure is up from 25 per cent in 2004." 

President Bush had a sharper riff against Democrats on taxes yesterday, including this shot: "The Democrats have made a lot of predictions.  Matter of fact, I think they may be measuring the drapes.  If their electoral predictions are as reliable as their economic predictions, November 7th is going to be a good day for the Republicans."