Tue, 18 Sep 2007

Fed may cut key interest rate

Not that I think it'll really matter much in the long run, but it'll be interesting to see what they do with the rates. They've almost painted themselves completely into a corner, with negative comments about raising rates, lowering rates and doing nothing. But you can rest assured that they'll escape somehow. It's always fun to watch pols in this position manage to scrape by with a straight face.

A serious bout of financial market instability has dramatically changed the debate at the Federal Reserve from worries about inflation to concerns about the possibility of a recession.

(link) [CNN.com]

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