Free Republic

Transparent Quicksand With all the mock rapt attention directed to the hush-hush-what’s-the-Fed-going-to-say statement that followed the ¼% rate hike Tuesday, there was a puzzling ending to the affair that says a lot about what’s really happening on Planet Wall Street. At the appointed hour of 2:15 eastern time May 3rd, 2005, the Fed announced its eighth consecutive ¼ pt. increase in the Fed Funds rate. This move of course was widely expected. The drama was attached to what the Fed would say in its statement to follow. For months now the Fed has made clear its intention to continue interest...