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Fed Rate Hike? Inconceivable!
Posted on June 26, 2008
So Vizzini said his piece last night, observing that growth risks, while mitigated, remained to the downside, while inflation risks were somewhat more acute than previously thought. And hey - Fezzik voted for a rate hike! Macro Man thought that on balance, the statement was a tad more hawkish than he'd feared, but clearly the market didn't agree. To be sure, Macro Man doesn't think that the Fed will hike rates any time soon, but the reaction of markets appeared to suggest that such an outcome is, to quote the original Vizzini, inconceivable! Macro Man was frankly surprised at the reaction of...
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