Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: Jim Willie CB who wrote (28066)	9/18/2003 5:29:20 PM
From: lurqer	Read Replies (2) of 89467

Around Washington, D.C., it's now an open secret that President George W. Bush and Federal Reserve Board Chairman Alan Greenspan struck a deal. Bush pre-appointed Greenspan to his fifth term in return for an unwritten pledge that the Fed would not raise the federal funds rate until after the 2004 election. What does this mean in terms of interest rates generally, the overall U.S. economy, and the rate of inflation? We know the bond markets didn't like the deal. Shortly after news of this deal began to circulate, the 10-year Treasury bond rate zoomed from 3.15% to 4.65%, an unprecedented gain following a Fed easing. from industryweek.com Thanks to Chris on iHub lurqer

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