November 1, 2007
Correction Intensification
Typically crazy range around the Fed announcement, smashing and dashing the best-laid plans of everyone. I’ve bolded the bits of the statement that matter … the rest is bullshit as usual — the Fed guys are big on nominalizations, revealing their academic (BS artists) background.
“Economic growth was solid in the third quarter, and strains in financial markets have eased somewhat on balance. However, the pace of economic expansion will likely slow in the near term, partly reflecting the intensification of the housing correction. Today’s action, combined with the policy action taken in September, should help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and promote moderate growth over time.”
November 2nd, 2007 at 10:22 pm
God, don’t you love that TD 13 sell countdown going into the fed meeting. Beautiful baby!!!
Chairman, how much are you paying for the bloomberg over in China
November 3rd, 2007 at 8:45 am
Redbridge: I pay nothing but I think my employer pays $1500 a month because they’ve got a lot of terminals. When they fire me I’m going to have to get my own; I think it’s $1750 for an individual.