Parsing the Fed
The WSJ:
The Sept. 20 statement announced that the Fed was raising its key short-term interest rate by one-quarter point to 3.75%, its 11th straight increase, despite uncertainty about the economic impact of Hurricane Katrina. The storm hurt near-term economic growth, which normally would call for lower interest rates. But it also has elevated inflationary pressure, which normally would call for higher rates.
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Source:
PARSING THE FED
Weathering the Storm
WSJ, September 20, 2005
http://online.wsj.com/documents/info-fedparse0509.html
Tuesday, September 20, 2005 | 09:37 PM | Permalink
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"But it also has elevated inflationary pressure, which normally would call for higher rates."
No fair! I claim foul! Why does he get to count food and energy and we don't? NO FAIR! *wa wa*
Posted by: Larry Nusbaum, Scottsdale | Sep 21, 2005 9:00:53 AM
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