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Fed: Sorry, Our Bad.

Posted on May 21, 2008

FOMC minutes were released at 2:00pm this afternoon. Upon reading the release, Candide suffered a fatal heart attack.The reset of the cheerleading squad of pollyannas simply lost their arguments -- along with their lunch -- that growth is fine, inflation modest, the credit crisis contained. Markets, which were positive, rolled over and fell 250 points.More to come shortly . . .Source:Minutes of the Federal Open Market Committee April 29-30, 2008Federal Reserve, May 21, 2008http://www.federalreserve.gov/monetarypolicy/files/fomcminutes20080430.pdfFed Signals Rate Cuts Are DoneBRIAN BLACKSTO...

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fed , fomc , inflation , online