The Fed - highlighted by recent dissenters - are now getting into more and more difficult circumstances - for unlike conditions existing in QE1 where inflation was flat to negative we now have very high prices for most commodities and this is being reflected in the Core annual rate of CPI. Today's activity is fairly light and things could remain thin however we are seeing some fresh lows made for key bank stocks and this is upsetting front month eurdollar contracts. For more on this post a comment and you can follow us at our new member only site.
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