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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patron_anejo_por_favor who wrote (203324)11/7/2002 7:04:46 PM
From: mishedlo  Read Replies (1) of 436258
 
Comstock
tinyurl.com

excerpt:

That the Fed itself recognizes the dangers ahead is indicated by their conflicted statement accompanying the decision. At the September meeting the FOMC left interest rates unchanged despite saying that the risks to the economy were on the downside. Since then the economy has deteriorated badly enough to panic the Fed into a 50 basis point reduction, yet they stated that the risks were neutral. Obviously, the Fed knows better, but was afraid of creating panic in the market with a more negative statement. Despite the professed neutrality the size of the cut says it all. They are extremely concerned—and correctly so.
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