Jim, I find it interesting that everyone, and I mean everyone, expects a 1/2 point, and maybe a 3/4 point cut.
Now, numbers out today suggest maybe another cut isn't needed right now.
The FED reported that consumer credit jumped an UNEXPECTED $16.1 billion in January, and that is a 13% annualized rate of increase. So, that tells me that those consumer confidence polls are full of sh*t, people are spending, heavily.
So, based on that, consumers are spending up, so why cut again? And what if they cut 1/4 point?
And this>
"OLYMPIA FIELDS, Ill. (Reuters) - The U.S. economy is not in a recession, Federal Reserve Bank of Chicago President Michael Moskow said on Thursday.
``I don't personally think we're in a recession at this time,'' he told reporters after speaking to the Prairie State Foundation."
All this raises some serious question as to what the FED will do... |
