Word: feds
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...Fed?s behavior can attest, this is no time to worry about inflation. And when a president with 90-percent approval ratings puts on a green eyeshade and tells unemployed people to all go get jobs at Wal-mart, those approval ratings...
...turn this thing around - not on Wall Street if investors? heads are elsewhere, not in the economy if nobody wants to borrow more money even if it?s free. But with Wall Street and the economy both expecting another rote 50-point cut - this one to bring the fed funds rate down to 2.5 percent for the first time in 40 years - he also knew Tuesday that he couldn?t stop...
...Because the Fed also knows what it doesn?t know. "The terrorist attacks have significantly heightened uncertainty in an economy already weak? Business and household spending as a consequence are being further damped," the Federal Open Market Committee said in its statement before telegraphing that its rate-slashing regime wasn?t over just...
...week or two after Sept. 11 has sent the whole thing tumbling toward the abyss. And Greenspan knows that while his cuts so far haven?t helped discernibly, they haven?t hurt either - if only because after 14 years at the helm, the sight of a fighting Fed has considerable power to comfort businesses and consumers alike...
...fight the Fed, the saying still goes - rate cuts will win eventually, and eventually Greenspan is going to have to take these last few cuts back. But at this point, he?d like nothing better than to have gone too far. Because if the consumer holes up for the winter - and that could happen for any number of as-yet-unknowable reasons - the corporate engines of capitalism have no reason to get into gear again, and this economic hibernation could go on indefinitely...