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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: saveslivesbyday who wrote (127309)	6/5/2008 3:41:30 PM
From: Smiling Bob	Respond to of 306849

Because the market has proven him wrong along with everybody else who doubts this administration's fiscal and economic policies. You can't argue with 211 points, can you? Bush is THE man

To: saveslivesbyday who wrote (127309)	6/5/2008 4:20:59 PM
From: Perspective	Respond to of 306849

Sounds like Lacker might actually have a spine. Too bad he doesn't vote again until next year: <Lacker, who will vote on the rate-setting Federal Open Market Committee next year, said rising public expectations for the rate of inflation have ``gotten'' his ``attention.'' If there is a risk of inflation expectations rising ``significantly, we need to shade policy higher than we otherwise would,'' he said. ... The central bank has introduced three programs since December to help counter the credit crisis. Along with the Primary Dealer Credit Facility, the Fed lends Treasuries to dealers in exchange for mortgage and asset-backed debt through the Term Securities Lending Facility. The Term Auction Facility offers cash loans to banks. Lacker indicated skepticism about the value of the programs. ``It isn't clear what kind of market failure is being addressed'' with the TAF, he said. Central bankers should be wary ``that they can substitute their own judgment about the fundamental value of financial instruments,'' he said. ... Lacker, 52, heads a district that is home to two of the four biggest U.S. banks. A former head of research at the Richmond Fed, he alone dissented in interest-rate votes at the Fed in late 2006, wanting to continue raising them to stem inflation. Let `Fail' ``Establishing a new set of boundaries for central-bank lending is a high priority,'' Lacker said in the interview. ``You would expect that'' the limits ``aren't going to be credible unless we let somebody fail in a costly way that is beyond that scope,'' he said. > `BC