Fed To Raise Rates? (I doubt it)
Dan North of Euler Hermes provides a smart overview of what the Fed's options are:
Marketwatch:
Tuesday, June 10, 2008 | 05:30 PM | Permalink
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I suppose Ben will again be shown up if Trichet actually does something more than talk about raising rates.
As for Paulson, I wonder if his counterparts at the G-8 have to practice not laughing when they listen to him. In law school I learned that your arguments should always pass the "risibility test," i.e. not provoke an LOL response. I suppose Paulson never learned that rule. Or maybe he has passed the point of worrying about being laughed at by those who don't have banana republic currencies:
Treasury Secretary Henry Paulson will tell his Group of Eight counterparts that ``strong'' U.S. long-term fundamentals will be reflected in the dollar, and said he would ``never'' rule out intervening in the currency-market.
``The long-term fundamentals in my judgment are not only strong, but they compare favorably with those of other industrialized major economies,'' Paulson said in an interview with Bloomberg Television today in Washington. ``Those long-term fundamentals are going to be reflected in our currency value.''
Posted by: Mike in NOLA | Jun 10, 2008 6:22:04 PM
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