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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: ild who wrote (10496)3/19/2004 8:34:54 PM
From: ild  Read Replies (1) of 110194
 
Fleck found a pearl in Fed's January minutes:

"A number of members commented that expectations of sustained policy accommodation appeared to have contributed to valuations in financial markets that left little room for downside risks, and the change in wording might prompt those markets to adjust more appropriately to changing economic circumstances in the future."

federalreserve.gov
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