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Did he mean to say rate cut?
Federal Reserve Chairman Ben Bernanke talked to a group of business people in Charlotte, North Carolina last night. He said the central bank needs to be "exceptionally alert and flexible" given the credit crunch, housing slump, and rising energy prices. Investors are counting on that translating into another rate cut at the Fed's final meeting of the year on December 11.
Posted on November 30, 2007 7:02 AM PT | Permalink
Comments (1)
Oh boy, another rate cut. Just what we need to keep the Greenspan's binge of easy money and the housing bubble afloat. Helicopter Ben, rev your engines.
After all, we wouldn't want want home prices to fall. Apparently it is the Federal government job to keep the American consumer from ever being disappointed. Who could stand all that whining? So what if home values are artificially high thereby keeping low income folks frozen out of the market. Open the windows. Hands out, palms up. I hear a the whir of a rotor overhead. More free money about to fall. How easy. And, lucky us, absolutely no unintended consequences.
Posted by Michael Lofrano | December 3, 2007 5:17 AM PT
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