Posted on 08/30/2007 10:28:05 AM PDT by Hydroshock
Federal Reserve Chairman Ben Bernanke is under intense pressure to signal a rate cut when he takes center stage Friday at a gathering of central bankers in Jackson Hole, Wyoming. Dennis Cook / AP Federal Reserve Chairman Ben Bernanke --------------------------------------------------------------------------------
In recent days, CEOs, investors and politicians have been clamoring for the Fed chief to move quickly to ease the current credit crunch and keep the economy from sliding into a recession. Although the Fed helped calm the markets on Aug. 17 with a surprise cut in the discount rate, the call now is for a cut in the more important fed funds rate, which has been stuck at 5.25% for more than a year.
"Clearly, the risk of the economy overall going into a recession is heightened right now," complained Ara Hovnanian, the chief executive of homebuilder Hovnanian Enterprises in an interview on CNBC Thursday. "The credit market disarray is real. Clearly a rate cut would be helpful to the overall economy right now."
It's against the backdrop that Bernanke will deliver one of the most closely watched speeches of his chairmanship on Friday.
(Excerpt) Read more at cnbc.com ...
So you DON’T know what core inflation is running at. Understood.
You know absolutely nothing about the underlying economic situation, and everything is based on “rate cuts will help my business”, but you sit here posting while your business is suffering.
Got it.
But I doubt it, you want a juvenile flame war on an adult topic.
Not interested. Run along.
You are out trolling the troll; using the weaknesses of his own approach as a weapon against him in some kind of trolljitsu. I love it.
‘If performed properly, is no defense....”
Karate Kid
Who told you that? Ex-Texan? What does he do for a living? LOL!
Are you sure? Where was the dollar when the Fed funds rate was 1%?
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