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Fed Move Not Precursor of Change: Ex-Fed Gov.

Monday, 22 Feb 2010 | 3:35 AM ET

The Federal Reserve's discount rate hike needs to be viewed as a "technical move" and is not a precursor of short-term change, Randall Kroszner, former Fed governor, told CNBC Monday. "It's a precondition for interest rates going forward," he added.