they are still worried about inflation and the weakening dollar causing import prices to rise. they are in a very difficult spot.
Problem is when inflation is already a much bigger problem for the average middle class American who now has to depend on alternative streams of income such as the value of their homes, e-bay, and stock trading, the FED saying their worried about inflation doesn't matter to the average joe six pack. As far as I am concerned inflation might as well be 100%.
I recall them saying for the past couple of years that inflation is in check, hmmmm now all of the sudden its not.
They may have worked out that inflation, EX-FOOD AND ENERGY is a meaningless statistic. Who doesn't eat, or drive a car, or use electricity, or heat their homes...?* *apart from crack-whores
When helicopter Ben said weaken dollars doesn't affect over daily life, I know we are fuck. The weak dollars affect every tiny bid of our life when we depend on other countries so much. Weaken dollars mean high cost to import, which lead to high cost for goods and this affecting our life. He is a moron, thought he spends his life studying it and know what he is talking about. Can't expect much when he is selected by Bush, who himself is a fool.
Mike Holland, the favorite analyst of PBS's Nightly Business Report sez the FED move today will prove to be a disaster. He's calling for a major selloff tomorrow.
All three major index futures have been trading steadily in the green tonight.. personally I think today was an overreaction, thats what the market does best though right?
the credit markets are still really screwed up... the last hour of tomorrow for me is the indicator.... hard down after 3 pm eastern will be a tell...