WASHINGTON (MarketWatch) -- The Federal Open Market Committee has begun its meeting to set monetary policy for the next two months, a spokesman for the central bank said Tuesday. There is widespread agreement among economists that the FOMC will hike rates by a quarter-percentage point to 3%. This would be the eighth straight meeting with a quarter-point hike. Economists expect few major changes to the Fed's post-meeting statement. They expect the Fed to repeat that rates can be raised at a "measured" pace
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they have no choice but to raise rates. with the deficit getting bigger and us dollar getting weaker and inflation starting to creep up. they have to raises rates even if the economy is slowing.
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Markets are not up. That event was market makers illegally sitting on orders until after the Fed announcement. Market makers sat on high orders until they were sure the Feds would raise the interest rate, then sold into high bid orders using low buys from their company accounts.
That event is now over which was pure widespread illegal market trading by Wall Street.
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Today's rate raise by the Feds is simply another example of the idiocy of the Bush administration economic policies.
This idiocy is twofold.
Bush, the educationally challenged person he is, believes commerce prices will rise leading to uncontrolled inflation. Opposing this are mixed earnings reports, with an overall "not-so-good" rating; demand is lessening. Companies are already compelled to keep prices lower by cutting costs.
A vast majority of American consumers are in the process of cutting back on spending. There is no choice on this because of energy cost and trickle through associated costs, all of which is another failure of Bush's economic policies.
Current inflation pressures are directly linked to idiocy of our current Bush administration and their failure to lobby both oil producing nations and American energy producers to check prices.
Exxon-Mobil is reporting billions in profits and gave their CEO a thirty-million plus per year raise, and are enjoying hefty financial rewards straight from the Oval Office.
Meanwhile, de facto, the working class is more strapped with higher taxes than ever; lower wage value, higher costs and the Bush omission lie of the Alternative Minimum Tax.
Inflation would normally self-correct because significantly falling demand for products.
Bush, however, has seen to it the rich and big corporations, such as oil and drugs, are being well rewarded financially, during his two terms of office.
Bush is ripping off America and screwing up the entire world.
Only shining light amongst Wall Street corruption and Bush / Cheney corruption, is the teamwork of California's attorney general and New York's attorney general. Don Quixote comes to mind.
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THIS IS BULL SHEET I go short, knowing market is not reacting well to data and will most likely begin to descend in am. Before market closes FED releases this:
Fed says made omission in FOMC statement By Greg Robb WASHINGTON (MarketWatch) -- The Federal Reserve said that it made an omission in the Federal Open Market Committee statement released Tuesday afternoon. The Fed said it left out a sentence indicating that inflation expectations "remain well-contained." Economists had seized on the lack of such language as a sign that the Fed was more hawkish on inflation -- meaning that it would continue to hike interest rates. (Updates earlier version.)
WE FORGOT! WTF IS THAT, this game is hard enough without the fed acting like MLON!
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screw the white house, I"M LOOOOOOSING MY SHORTS, if i don't sell at open I could be toast, I only bought may calls so I don't have much time. I don't care what they do, i'll go long or short, but don't add stuff when I go out for a beer.
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U.S. considers reinstituting the 30-year bond By Rex Nutting--WASHINGTON (MarketWatch) -- The U.S. government is considering reinstituting the 30-year bond, the Treasury Department said Wednesday. A decision will be announced on Aug. 3 at the August quarterly refunding. The Treasury stopped issuing the bond in October 2001 when the government was projecting surpluses that would eventually eliminate government debt. Now, the government faces large deficits that need to be financed in a cost-effective manner.
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also the iraq war is not helping. with deficit and dollar weak. that is the reason feds have no choice but to raise rates even if the economy is slowing and inflation is so called under control. you can bet on another raise hike in june. but for the mean time market is probably going higher now that the fed said inflation is under control. but follow the volume. we still in a bear market.
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surprising that some stocks like TMFZ have gotten crushed over the last 6 weeks, considering that mortgage rates have dropped those same 6 straight weeks. TMFZ trailing P/E hammered down to 4 now, not sure what is up with that
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