After a two-day meeting, the Federal Reserve is expected to cut the federal interest rate yet again bringing it to an all-time low. WSJ’s Sudeep Reddy shares his analysis on what the move will do.
12/15/2008
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
Knowing that the vote over the weekend in Greece was really a referendum on Euro membership, a majority of the Greek Parliament said yes to staying. European Finance Ministers meet again on Wednesday to solidify the 2nd bailout package for Greece at the same time hopefully a deal is consummated between Greece and its creditors this week. The Greek 14.5b euro bond that matures on March 20th is up by 2 pts. The optimism that all will be completed and contained AGAIN to Greece has yields lower in Portugal, Spain and Italy. The iTraxx Financial Index is also narrower by...
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December 16th, 2008 at 9:53 am
Sell the news.
December 16th, 2008 at 12:30 pm
Here’s the translation:
1. It ain’t going to work
2. At least now we can focus on growing the Fed balance sheet.
3. Mr. Market is good for a morning pop.
4. SELLLLLLLLLLLLLLLLLLLL
All delivered in a measured tone with a smile. Perfect, really.
I agree with leftback. Sell the news.