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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: benwood who wrote (12166)	9/23/2004 2:24:57 PM
From: mishedlo	Read Replies (2) \| Respond to of 116555

FOMC in August saw need for large amount of tightening Thursday, September 23, 2004 6:15:55 PM WASHINGTON (AFX) -- With rates so low and inflation rising, Federal Reserve officials saw the need in coming quarters for a "significant" amount of rate hikes, according to a summary of the FOMC's Aug. 10 meeting released Thursday. "Given the current quite low level of short-term rates, especially when judged against the recent level of inflation, members noted that significant cumulative policy tightening likely would be needed to foster conditions consistent with the FOMC's objectives for price stability and sustainable economic growth," the summary said. In general, FOMC members were upbeat about the economy's future prospects, agreeing that the slowdown in the second quarter would be "short-lived" and the weak labor market would improve fxstreet.com ============================================================ I was wondering what caused the sudden reversal in treasuries & eurodollars. This all seems rather stupid to me. The market is reacting on data that is over 1 month old, with an interim FOMC and language changes in the meantime. Why the F does it take over a month to get out a statement anyway? Mish