01/30/08
The Fed fulfilled expectations and just cut rates another .5%. What a lot of sensible people were forecasting just a few weeks ago — a fall in the Fed funds rate to 3% over the next 12 months — has taken place in the space of ten days. Yowza.
And it still probably won't avert a recession. Well, check that. Based on what we saw earlier today, the GDP numbers may well get twisted enough in the months ahead so that on paper there's no recession. Can't have that in an election year.
Dave Gonigam
Treading a fine line between contrarian thinking and conspiracy theory, Dave Gonigam explores the nexus of finance, politics, and the media for Agora Financial's 5 Minute Forecast. He joined kindred spirits at Agora Financial in 2007 after a 20-year career as an Emmy award-winning writer, producer, and manager in local TV newsrooms nationwide.
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Well if they keep cutting we will keep raking in the profits on inflation hedges like gold.
Not sure if you’re really making a profit with gold, just holding on to your assets while the dollar depreciates…