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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: CalculatedRisk who wrote (35033)	6/29/2005 7:20:25 PM
From: ild	Read Replies (1) \| Respond to of 110194

No Fireworks Expected From The Fed Tomorrow The only thing related to fireworks on the minds of FOMC members tomorrow is whether they will get invited to watch the pyrotechnics Monday night with Alan and Andrea high atop the Fed’s Martin Building. The FOMC will raise its funds rate target by 25 basis points to 3.25% tomorrow afternoon. Although I do not doubt that a pause is coming no later than after the August 9 FOMC meeting, I do doubt that there will be any hints of an imminent pause in rate hikes in tomorrow’s statement. The committee is just not yet ready to commit. And not yet having decided at what funds rate level it wants to pause, the FOMC does not want to give the markets any reason to race ahead of the final decision. Paul Kasriel northerntrust.com