Former Federal Reserve officials William Poole and Susan Bies said
it wouldn’t be wise for policy makers to cut the benchmark U.S.
interest rate below the current 2 percent. "We have an adjustment in
housing that has to take place,” Poole, former president of the St.
Louis Fed, said during a one- hour Bloomberg Television special,
"Surviving the Slowdown,” yesterday. "I do not think rate cuts are
going to solve the basic problem.”
The former Fed officials’
remarks underscore the risk that more rate reductions may fan
inflation, which is accelerating because of rising prices of food,
energy and other commodities. The Fed said "uncertainty about the
inflation outlook remains high” and indicated it’s ready to pause its
rate cuts by dropping a reference to "downside” risks to growth.
Poole, Bies Say More Fed Rate Cuts Wouldn’t Stem Slowdown Much
Vivien Lou Chen and Kathleen Hays
Bloomberg May 1 2008
BMO Financial Group global portfolio strategist Don Coxe discusses Food prices, shortages, and the appropriate investment strategy in the face of the recent food crisis:
courtesy of BNN
Global Portfolio Strategy [04-30-08 10:10 AM]
BNN, April 30, 2008
As we await what is happening with Microsoft and Yahoo, Aaron Task and I discussed the bigger picture as to what happens next on the internet.
This was all pretty off the cuff stuff (in case you cannot tell) but its how I really feel about the players involved:
That headline was actually spontaneous (I can turn a phrase, huh?)
Ok, feel free to write what a MSFT basher I am (no arguments from me)
Nobel laureates in economics Gary Becker of the University of Chicago, Edmund Phelps of Columbia University, Myron Scholes of Stanford University, and Michael Spence, former dean of the Stanford University Business School, participate in a panel discussion at the Milken Institute Global Conference in Los Angeles about the theory of "decoupling" and outlook for the U.S. and global economies.
Becker, Phelps Are Optimistic on U.S. Economic Outlook
Bloomberg, April 29 2008