Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Fed Does Not Change Interest Rate
http://money.cnn.com/ ^ | 8-7-07

Posted on 08/07/2007 11:20:02 AM PDT by Hydroshock

Fed leaves key short-term interest rate unchanged at 5.25%; indicates worries about credit problems. More details soon.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: fed; govwatch; housingbubble; realestate; speculation
Navigation: use the links below to view more comments.
first previous 1-2021-38 last
To: Hydroshock

There is a little bit of justice after all. Good for Bernanke.

I wish we could see the live video feed of Cramer in his office. It would be better than the scene at the end of Wall Street when Gordon Gekko realizes he’s been played and breaks his glass desk.


21 posted on 08/07/2007 11:30:40 AM PDT by RinaseaofDs
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hoosier-Daddy

In my area in SE PA they are still building - and selling - luxury 4000+ sq ft homes for 750K and better.


22 posted on 08/07/2007 11:31:21 AM PDT by cinives (On some planets what I do is considered normal.)
[ Post Reply | Private Reply | To 9 | View Replies]

To: Clemenza

Simple - just depends on who’s pandering for votes among the 30-second attention span crowd.


23 posted on 08/07/2007 11:31:38 AM PDT by tgusa (Gun control: deep breath, sight alignment, squeeze the trigger .....)
[ Post Reply | Private Reply | To 17 | View Replies]

To: Hoosier-Daddy

Good. The price of some of these cracker boxes in California will go down, and my kids might be able to afford a house without a 100 year note.


24 posted on 08/07/2007 11:32:04 AM PDT by RinaseaofDs
[ Post Reply | Private Reply | To 9 | View Replies]

To: Hydroshock
All major indices down 1.2%.

That took almost 15 minutes.

The suggestion is the FED screwed up big time.

Tomorrow the Revolution eh!

25 posted on 08/07/2007 11:32:13 AM PDT by muawiyah
[ Post Reply | Private Reply | To 1 | View Replies]

To: RinaseaofDs

I am sure lowering the rate would have allowed a few of these hedge funds to live a lot longer....refinancing their debts, etc....but now they have to wait three long months for a new hope.


26 posted on 08/07/2007 11:32:26 AM PDT by BurbankKarl
[ Post Reply | Private Reply | To 21 | View Replies]

To: Pokey78

Good to see he has calmed down these days. He was definitely a candidate for a major medical incident.


27 posted on 08/07/2007 11:34:02 AM PDT by RightWhale (It's Brecht's donkey, not mine)
[ Post Reply | Private Reply | To 11 | View Replies]

To: Hydroshock

Dang. I was hoping for an increase. Not sure how much longer I can deal with the temptation to buy money cheaply.


28 posted on 08/07/2007 11:36:03 AM PDT by WinMod70
[ Post Reply | Private Reply | To 1 | View Replies]

To: muawiyah

Love those charts that look like the trajectory of a rock heaved off a cliff.

Lets get the damm correction over with, shall we?


29 posted on 08/07/2007 11:36:22 AM PDT by L,TOWM ("Protesting Clinton's wars was'nt cool..." - Jeneane Garafolo, 2003)
[ Post Reply | Private Reply | To 25 | View Replies]

To: BurbankKarl
The hedge funds that are going to die did so over the last couple of weeks ~ you just haven't heard about it.

They're the guys who've been selling everything they've got to stay alive.

Steel imports from China (rolled sheet used substantially in home construction) and rebar (used substantially in poured foundations, new residential streets and sidewalks) should drop off the edge of the planet.

30 posted on 08/07/2007 11:38:47 AM PDT by muawiyah
[ Post Reply | Private Reply | To 26 | View Replies]

To: cinives

No doubt West Coast transplants that sold out when the gettin’ was good are driving that market. Wait ‘til they get a load of the good old PA school district property taxes.


31 posted on 08/07/2007 11:45:18 AM PDT by WinMod70
[ Post Reply | Private Reply | To 22 | View Replies]

To: Hydroshock

I never understood why dropping the Fed funds rate by 1/4 point would have caused investors to rush back into the mortgage market anyway. I like the non-move by the Fed. The markets have overreacted to the subprime situation and are acting irrationally. No need for the Fed to feed the irrationality by cutting rates when it isn’t warranted.


32 posted on 08/07/2007 11:53:23 AM PDT by Dems_R_Losers (Thanks anyway, Nancy, but we already have a Commander-in-Chief!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: jsh3180
The Fed has put themselves in a box. Lowering rates causes the dollar to sink further, rapidly no doubt. Raising rates further compunds the credit worries. They are between a rock and a hard place.

What we need is coordinated policy with other countries that are raising their rates for no good reason. Unfortunately that's not going to happen with a president that is indifferent, arrogant, and ignorant when it come to economic policy.

33 posted on 08/07/2007 12:00:05 PM PDT by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
[ Post Reply | Private Reply | To 10 | View Replies]

To: Hydroshock

No surprise. It’s just what I said would happen. “We’re concerned about inflation, but we could care less about what’s happening with the economy.” A piece of moss could be trained to be on the FOMC.


34 posted on 08/07/2007 12:02:46 PM PDT by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: muawiyah

My bet is they were all short the market. IMO :)


35 posted on 08/07/2007 12:03:01 PM PDT by Racer1
[ Post Reply | Private Reply | To 25 | View Replies]

To: muawiyah

Dow is up 28 now.

LLS


36 posted on 08/07/2007 12:06:38 PM PDT by LibLieSlayer (Support America, Kill terrorists, Destroy dims!)
[ Post Reply | Private Reply | To 25 | View Replies]

To: WinMod70

You got that right - and the land use nazis are pretty bad here too.


37 posted on 08/07/2007 12:10:26 PM PDT by cinives (On some planets what I do is considered normal.)
[ Post Reply | Private Reply | To 31 | View Replies]

To: jsh3180
The Fed has put themselves in a box. Lowering rates causes the dollar to sink further, rapidly no doubt. Raising rates further compunds the credit worries. They are between a rock and a hard place.

With low inflation, low unemployment, good productivity and excellent corporate profitability it looks more like a sweet spot to me. The high-risk mortgage issue is a drop in the bucket.

38 posted on 08/07/2007 12:33:06 PM PDT by jdsteel (proud member of "Mothers And Children Against Criminal Aliens")
[ Post Reply | Private Reply | To 10 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-38 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson