Wednesday, June 17, 2009
Fed Weighs Using FOMC Statement to Damp Rate-Rise Speculation
What a joke the Fed has become.
If Bernanke wanted rates to come down he has the power to do that. There aren't enough speculators in the entire world who can fight a central bank's desire to keep rates at zero! He doesn't understand that???
Now the Fed is going to issue a "statement." Gee, I wonder what it's going to say..."You bad speculators better quit it, or, or...we'll have to issue another statement."
Meanwhile the market is stalling out and that probably means the economy is as well. What a joke. Same as last year with Lehman. We were improving then they let Lehman fail.
This entire Administration, plus the Fed: Just a bunch of people with a deep, deep, fear of success and a belief that we have sinned as a nation; that prosperity is a sin...and we must atone for our sins.