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I think that the Fed is trying to serve too many masters here... The government has been spending like a drunken sailor on shore leave and our bonds are becoming less and less attractive to the over seas folks who have been buying them. So, they've got to keep the yields up to keep them buying them.
Yet the economy, regardless of what the stock market is thinking, is starting to slide towards recession. I'd hate to be in their shoes...wait, I guess that we are all in their shoes!
Wasn't it nice when we were paying some of our debts off instead of borrowing more and more?
Bob Mitchell
ValueList Real Estate Services, Inc.
Oh, the predictions....they'll keep the rates the same for now. mention concern about inflation, but say that it's in check and no mention of a rate cut anytime soon.