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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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From: Chispas8/23/2007 10:40:59 PM
   of 116555
 
"FED has cut the FF rate" -
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Posted by: federal reserves
In reply to: madtyrolean who wrote msg# 561424 Date:8/23/2007 3:22:15 PM
Post #of 561476

they just have not told anybody yet. They are firing in repo's at rates well below the stated FF rate. This is in violation of their charter to maintain FF at 5.25%. This is outrageous behavior. If you a going to do this at least be honest, but none of these policy makers have the ability to tell the public the truth. They think if they do everyone will panic and sell.

ny.frb.org
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