MEMO: BUSINESS GROUP PREDICTS ANOTHER FED RATE CUT

The National Association for Business Economics' (NABE) forecasters predicted at its meeting Tuesday the Fed will cut rates again, probably by another half-point.

NABE members, in a survey released last week, "have remained steadfast in their belief that a recession is unlikely," said the association's president, Richard Berner, chief economist at Morgan Stanley.

The survey is based on predictions made by 27 economic forecasters who are members of the association.

The Fed has cut interest rates four times this year, totaling 2 percentage points, in an effort to rejuvenate economic growth.