Seeking Alpha

Fed Open Market Committee: Maintains rates and expects them to be that way "for an extended...

Fed Open Market Committee: Maintains rates and expects them to be that way "for an extended period," keeping the language that has accompanied the rate statement for more than a year. Resource slack still means inflation "subdued for some time." KC Fed's Hoenig dissents again.
Comments (13)
  • Harry Tuttle
    , contributor
    Comments (2221) | Send Message
     
    They should lower rates. Wait! ...never mind
    28 Apr 2010, 02:23 PM Reply Like
  • Credible Clarity
    , contributor
    Comments (160) | Send Message
     
    Nary a mention of sovereign risk with credit, fiscal spending restraint needs, more IMF contributions by US as cautions? It is most likely why they left almost all the language in the same place. Greece and contagion are influencing caution, so why not mention?
    28 Apr 2010, 02:25 PM Reply Like
  • Trader14
    , contributor
    Comments (224) | Send Message
     
    Making people feel better about a credit crisis created by easy credit by offering more easy credit...brilliant!
    28 Apr 2010, 02:38 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    Why not mention it...because they are scared to death....this is the next bubble and they canĀ“t bail this one out....its way to big to save countries....
    28 Apr 2010, 02:38 PM Reply Like
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
     
    I don't know what's running faster, their printing press or their Xerox machine pumping out the same statement over and over. Simply idiotic and corrupt.
    28 Apr 2010, 02:42 PM Reply Like
  • nightfly
    , contributor
    Comments (1017) | Send Message
     
    Confidence game is being played out in the press - all "officials" are very optimistic - nary a pragmatic comment from any of them.

     

    Makes me think fondly of the days when Ben said "...all is contain within subprime..."
    28 Apr 2010, 02:56 PM Reply Like
  • mb2
    , contributor
    Comments (184) | Send Message
     
    This has been the most boring post-fed action I've ever seen. The absence of a big upmove is a warning sign (to me). Of course, HAL could take over at any time...
    28 Apr 2010, 03:06 PM Reply Like
  • Credible Clarity
    , contributor
    Comments (160) | Send Message
     
    And then on May 5th, HAL and his other machine friends did take over for several exhilarating minutes - burying some individuals who were liquidated on the margin calls.
    8 May 2010, 05:15 PM Reply Like
  • Chefo
    , contributor
    Comments (13) | Send Message
     
    Super-duper! Free money for everyone... who happens to be able to borrow at 0% (wink, Wall Street, wink). As for you prudent savers out there -- tough luck; enjoy negative interest rates 'for an extended period'. That is to say, the FED is stealing 2% of your money every year and giving it to the big boys who are either lending it back to you at loan-shark rates or buying leveraged ES minis by further levering said cash x7. On a more sour note, this Fed seems to be currently planting the seeds for the bubble to end all bubbles...
    28 Apr 2010, 04:27 PM Reply Like
  • Trader14
    , contributor
    Comments (224) | Send Message
     
    It would be funny if it were not so sad, are we really to believe this will help most people?
    28 Apr 2010, 04:39 PM Reply Like
  • If U Say So
    , contributor
    Comments (348) | Send Message
     
    Curious if the indebted American consumer will have lowered their credit card balance enough for when the Fed does start to raise rates. Revolving credit has some of the highest markups over discount rate in quite some time. Very low Fed and discount rates are keeping this interest barely manageable for some.
    28 Apr 2010, 04:42 PM Reply Like
  • Trader14
    , contributor
    Comments (224) | Send Message
     
    The problem is lowering credi card debt is so "last year", consumers are obviously running their balances back up.
    28 Apr 2010, 05:07 PM Reply Like
  • mannettino
    , contributor
    Comments (1065) | Send Message
     
    Bizarro world:
    - a world wherein the economy has been "strengthening" for months, but interest rates need to remain at zero for an "extended period".

     

    Would be funny if so not for so many people (retirees) being hurt...
    28 Apr 2010, 05:46 PM Reply Like
DJIA (DIA) S&P 500 (SPY)