- June 30, 2006
Thursday saw a powerful response by the markets in stocks, bonds, commodities, and currencies to the communique from the Fed after its recent two-day meetings. Clearly, some were interpreting the communique to mean that the Fed had finally come to an end of its interest-rate-hiking ways. The immediate spin was quite "dovish" in terms of future rate hikes and concern about inflation.
That has become a pattern in the last year. The Fed releases its minutes, the immediate spin is that we...Read more