The fed policy reversal is a good move, if it's not a ruse. We'll see.
Ruse. These notes are from weeks ago; at least two Fed Governors in the past week have said that they are still concerned about inflation.
Plus, this makes the sixth meeting in a row by my count that they have made the soothing coos of "almost done".
Seems unemployment and inflation are in fluctuating balance -- this is good! Better than good. Astounding!
In the 60s, Friedman and Phelps came up with a long-term theory about the inflation/unemployment scenario (Phillips curve) and showed how MUCH expectations and or attitude factor into whether or not economic drama is short-lived or long-term.
And weeks back, naysayers were all saying "doom... DOOM!" Run Fer Yer Lives! Inflation, Inflation!
Really p'd me off. There was NO SUBSTANTIVE reason for these gossipy, negative rumors except to fuel the gold market and while that is not a bad thing; what galled me most -- is the fearmongering seemed to be coming from areas of the MSM with an Anti-Bush agenda.