FED Minutes, Nothing New, Still Afraid of Inflation, Own Shadow
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After analysts on CNBC spent the better part of 2 weeks debating when the FED will decide to cut the FED Funds Rate the Dow fell more than 280 points today. The FED chairman Ben Bernake sites fear of inflation as a reason for not cutting rates at this time. Today's market correction could be indicative that the corner has turned in the market momentum. One analyst said that the previous low must be tested in order to ensure that the entire correction is complete.
For the FED to lower rates now would be a disservice to the correction though it would have an almost immediate effect on the housing market.
When the FED meets in September that is much more the line in the sand where they must lower rates.
After analysts on CNBC spent the better part of 2 weeks debating when the FED will decide to cut the FED Funds Rate the Dow fell more than 280 points today. The FED chairman Ben Bernake sites fear of inflation as a reason for not cutting rates at this time. Today's market correction could be indicative that the corner has turned in the market momentum. One analyst said that the previous low must be tested in order to ensure that the entire correction is complete.
For the FED to lower rates now would be a disservice to the correction though it would have an almost immediate effect on the housing market.
When the FED meets in September that is much more the line in the sand where they must lower rates.
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