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June 30, 2004

A Quarter Point

Greenspan raises the fed funds rate by .25%, as expected. The markets are trending slightly up on the news, apparently pleased that he didn't raise rates by a half-point.

I guess we're still waiting to hear Greenspan's report.

Update: No Greenspan news is good news:

There was little unexpected in the Fed's accompanying policy statement as well, which promised to continue a "measured pace" of rate increases to combat inflation. While the Fed admitted that there is a somewhat higher risk of inflation, the statement added that some of the inflation factors were transitory and that the risks were balanced.

The markets are up a little more. No big thing.


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posted by Ace at 02:45 PM

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