Emergency FOMC meeting

http://www.federalreserve.gov/boarddocs/meetings/2008/20080303/advancedexp.htm

Just scheduled on the 28th -- might Uncle Ben repeat his emergency 50bp trick this afternoon before closing?

 

"...portion of the closed meeting of the Board of Governors of the Federal Reserve System <B>at 11:30 a.m. on Monday, March 3, 2008,</B> will be held under expedited procedures..."


"Matters to be Considered:
1. <B>Review and determination by the Board of Governors of the advance and discount rates</B> to be charged by Federal Reserve Banks. "

Discount rate cut would be interesting

 

zzzzzzzzzzzzzz

 

Crude oil to $200.00.

 

Anyone notice that this is a FRB meeting, and not an FOMC meeting?

 

None of the news services seem to be mentioning this meeting. I think an emergency rate cut can be done using a phone meeting of the FOMC.

 

No need for a panic,it's nothing out of the ordinary - Fed sources

 

Not true, it's a regularly scheduled meeting. I believe CNBC actually is getting this right. I realize that is a shocker, but true.

 

Just a wiff of a rte cut has sent crude up to $103.47, up $1.61

 

The Venezuelean sitaution is driving oil. Tanks on the colombian border, wild threats by a crazy marxist thug, etc. We could see shooting anytime and US intervention.