Personally,.. I like the current position. It appears we are in a wait and see mode how the American Housing Rescue and Foreclosure Prevention Act plays out.
Further, it is an election year. Typically, nothing happens until after we elect a new president
However, I would be a stong advocate for rate cuts. Certainly , with rising gas and food prices, declining housing prices and consumer spending a weak dollar abroad, we clearly need further cuts.
In Arizona, at least in the greater Metro Phoenix area, we need more than most.
However, the economy needs some time to absorb the massive cuts of the last 12 months and to offer a more clear indication of where we are and where we need to go.
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