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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: yard_man who wrote (3981)	4/8/2004 7:01:22 PM
From: mishedlo	Read Replies (2) of 116555

From Federal Reserve Board Vice Chairman Roger Ferguson WASHINGTON (CBS.MW) - Interest rates in the United States will rise from their 45-year lows only when the economy is closer to full-speed ahead, Federal Reserve Board Vice Chairman Roger Ferguson said Thursday. "Interest rates will rise from their current low level only when the economic expansion is on more solid footing," Ferguson said in a luncheon speech to community leaders in San Francisco, Calif. Ferguson said the economy "appears to be engaged in a gradual process of recovery" but two main risks remain: a continuation of a labor market performing below expectations and the possibility that over-extended households could pull the rug out from under the recovery. "The evidence suggests that while neither risk can be ruled out, nor is either likely to come about," Ferguson said. ========================================================== This actually makes good sense to me. Yes, they are hoping for a miracle here as a result of failed policy, but what else do you want then to say or do? Mish

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