Booms, Busts, and Recoveries Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: TobagoJack who wrote (35366)	6/25/2003 11:55:52 AM
From: Canuck Dave	Read Replies (2) of 74559

Even weirder. Washington (AP) Federal Reserve officials, in a break with tradition, have issued a terse statement this morning before announcing their rate decision today. Following China's lead, officials have directed the nation's government sponsored entitites (GSE's) to not renew mortgage loans of over 50 billion dollars in order to prevent a nascent real estate bubble from developing. "What were we thinking?", quoted one Fed official, who rued the effects easy money policies have had on asset prices. "We'll let the marketplace determine the best rates", he added, "our concern is a stable monetary regime." Another official was quoted as saying "We've been slaves to economic theories of one form or another. From now on, we're just going to give common sense it's place in the decision processes." When asked if the credit cut off would hurt the economy, he added "What economy?". CD

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next