Mish's Global Economic Trend Analysis 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 : Mish's Global Economic Trend Analysis

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Steve Lokness who wrote (72359)	12/15/2007 5:36:42 PM
From: Tommaso	Read Replies (2) of 116555

Found it: Meltzer's Outlook ``We should still see reasonable sales growth and no recession,'' Meltzer, also a Fed historian, said in a telephone interview after the report. ``It's quite reasonable to expect high energy prices will slow business investment and, eventually, consumer spending, but people are working, the unemployment rate is low and Christmas is Christmas.'' Greenspan defended his record as a policy maker in a Wall Street Journal editorial on Dec. 12, saying that lowering the Fed's target interest rate to 1 percent in 2003 didn't have a major impact on demand for homes with adjustable-rate mortgages. Meltzer said later the same day that the former chairman ``lets himself off much too easy.'' Rising foreclosures triggered a collapse in demand for assets backed by U.S. subprime mortgages that roiled markets from Sydney to New York the past four months. The credit squeeze that followed forced the Fed, now led by Ben S. Bernanke, to reduce interest rates and join central banks in Europe to pump billions of dollars into the banking system. http://bloomberg.com/apps/news?pid=20602081&sid=aGyhKOCi4xdU&refer=benchmark_currency_rates

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next