Investment plays in recession
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It's a dramatic turnaround from less than six months ago, when oil prices peaked at $147.40 a barrel, prompting inflation hawks on the Federal Reserve Board's policy committee to vote against measures intended to minimize, if not entirely stave off, a severe economic downturn. The central bank's decision on Dec. 16 to slash the Fed funds rate to between zero and 0.25%, the lowest rate ever, makes clear that the Fed has shifted its target to preventing widespread deflation.
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