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To: yard_man who wrote (77738)7/22/2003 10:58:50 AM
From: skinowski  Read Replies (1) | Respond to of 209892
 
but when it is clear that there is going to be no recovery -- rates will come back down

Why should they come down if there is no recovery in sight? To the contrary, the lenders might become more conservative and demand higher rates. As for the Fed - no printing press can print enough money to actually pay people for borrowing money.