I was flat wrong...
I was flat wrong on fed funds and I will admit it.
We should have taken our medicene yesterday and gotten some excesses washed out of the system, but we choose the easy way out. The next three months will tell if we really are in big trouble and needed a 50 bps shot in the arm.
Inflationary pressures remain a problem, chief among them the value of the dollar in the FX market.
Gold and oil are telling us that the US$ isn't worth the paper it is printed on. Gold is pointed towards $800 and oil $100.
Yee-Haa (read: sarcasm!)
We should have taken our medicene yesterday and gotten some excesses washed out of the system, but we choose the easy way out. The next three months will tell if we really are in big trouble and needed a 50 bps shot in the arm.
Inflationary pressures remain a problem, chief among them the value of the dollar in the FX market.
Gold and oil are telling us that the US$ isn't worth the paper it is printed on. Gold is pointed towards $800 and oil $100.
Yee-Haa (read: sarcasm!)
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