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It's the economy

— CNBC's Patti Domm advises that the Fed is not expected to take action on interest rates at its latest meeting, but its statement this afternoon will be watched closely to see if it reveals new clues about its thinking on inflation and the economy.  The AP says, ""Many economists believe the Fed's first rate cut will occur around June of 2007, and they believe there could be two quarter-point reductions next year."