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Politics : Welcome to Slider's Dugout
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To: SliderOnTheBlack who wrote (6679)10/16/2007 4:36:54 PM
From: rich evans   of 50744
 
The Fed will hold. The reason is that the NYFED which conducts the openmarket operations is accepting bids at the present FF rate. So no need to cut. Before the last cut, no bank was making bids to sell at the FF rates. They were all much lower in the 4.6-7% range. The fed is following the market. The FF rate market now is at 4.75 or so. Thus no cut.
Rich
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