"Fed expected to hold a steady course; Policy report will shed more light on inflation risks" by Associated Press | June 24, 2008
WASHINGTON - .... The Fed is almost certain to hold its key interest rate steady at 2 percent when it wraps up its session tomorrow. If that's the case, the prime lending rate for millions of consumers and businesses would stay at 5 percent. The prime rate applies to certain credit cards, home equity lines of credit, and other loans....
That's not you or me, readers. We don't have enough collateral for prime!
Paper sure makes it sound that way though, doesn't it?
Mortgage rates are already rising - spurred higher by investors' concerns about inflation.
Yeah, that's the rate we get -- if you can get the loan, that is!
And, those higher rates spell yet more headaches for the problem-plagued housing market.
So what's the Fed to do?
"Tread lightly on rates and carry a big rhetorical anti-inflation stick," said Ken Mayland, president of ClearView Economics.
WTF? Can we JUST ONCE not have to endure the MILITARIST ANALOGIES?!
In a string of speeches over the past few weeks, Bernanke and his colleagues have been doing just that...."
Oh, so over the past few weeks, Bernanke has been blowing HOT FART MIST, 'eh?
Some aren't treading water though, readers.
They DROWNING!
