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Cat On That "Double Dip" Economy
cnbc.com | October 20, 2009 | 09:52 AM EDT
A double dip in the economy? Caterpillar [ CAT 59.37 
-0.40 (-0.67%) ] doesn't think so.
Buried in their quarterly report is this statement:
"Our major concern is that central banks will begin raising interest rates and reducing balance sheets too quickly. Economies likely will remain fragile well into 2010, and a renewed downturn would result in an even worse recession than the one just ended. Most central banks acknowledge this risk and indicate no hurry to tighten policies. As a result, we believe the chances of renewed recession next year are low." (my emphasis)
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