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"I do not see any immediate risk of a GSE debt problem, but am not willing to assume that in different conditions in the future one could not occur," the St. Louis Fed chief said.

Thanks Adam. I missed this article, but then again the Fed's boards have blown every call since 01 and have been late to the party. The interest rates (and if I can find a chart I'll post it) are following a scarey parallet to the Japanese interest rates. I just wonder what the overseas investors will do if we hit the .5-1.0% interest rate range and the implications for the dollar, etc. It almost seems like deflation is continuing in every part of our economy except real estate, and I still contend it's a distinct possibility to creep in that market soon.