The federal reserve website is showing a special meeting for monday morning to discuss the fed rate. Looks like we are going to have one heck of an interesting week. On a very positive note, it looks like Saddam's inner-circle is starting to have some serious defections. It's time to pull the trigger!
http://www.federalreserve.gov/boarddocs/meetings/ More to come - > Advance Notice of a Portion of a Meeting under Expedited Procedures It is anticipated that a portion of the closed meeting of the Board of Governors of the Federal Reserve System on Monday, October 7, 2002, will be held under expedited procedures, as set forth in section 26lb.7 of the Board's Rules Regarding Public Observation of Meetings, at the Board's offices at 20th Street and C Streets, N.W., Washington, D.C. The following items of official Board business are tentatively scheduled to be considered at that meeting. Meeting date: October 7, 2002 Matters to be Considered: 1. Review and determination by the Board of Governors of the rates of discount to be charged by the Federal Reserve Banks. - > Although, if you reference the past meetings, they sometimes have these smaller meetings and nothing is decided. Actually, the site says they meet every other week.
how is that new? The main site says "Last update: October 3, 2002" Notice of the meeting was given "Dated: September 27, 2002."
Went to the federal reserve's web site and did not see any urgent meeting. Please provide link where you found this information and also link to the news on Iraq. I'll assume this is a bunch of bull market crap until proven otherwise.
Advance Notice of a Portion of a Meeting under Expedited Procedures It is anticipated that a portion of the closed meeting of the Board of Governors of the Federal Reserve System on Monday, October 7, 2002, will be held under expedited procedures, as set forth in section 26lb.7 of the Board's Rules Regarding Public Observation of Meetings, at the Board's offices at 20th Street and C Streets, N.W., Washington, D.C. The following items of official Board business are tentatively scheduled to be considered at that meeting. Meeting date: October 7, 2002 Matters to be Considered: 1. Review and determination by the Board of Governors of the rates of discount to be charged by the Federal Reserve Banks. A final announcement of matters considered under expedited procedures will be available in the Board's Freedom of Information and Public Affairs Offices and on the Board's Web site following the closed meeting. For more information please contact: Michelle Smith, Assistant to the Board at 202-452-2955. Supplementary Information: You may call 202-452-3206 beginning at approximately 5 p.m. two business days before this meeting for a recorded announcement of any bank and bank holding company applications scheduled for the meeting; or you may contact the Board's Web site at http://www.federalreserve.gov for an electronic announcement about applications and other expedited items, as well as procedural and other information about the meeting. Dated: October 3, 2002 ----------------------------------------------------------------- expedited = urgent? i dunno.. -qwik
I agree. Also, on October 3d, they added the discussion of rates to the agenda. It's no big secret. As if da boyz from the Fed were out boozing it up at the 19th hole after a long day of golfing today, and decided they would give the markets a little juice tomorrow morning. "The Fed has entered the market". Seriously, how much can a 25bps or 50bps cut really do at this point?