Wednesday, September 23, 2009

Fed Decision



The Fed rate decision is expected at 2:15 today. Fed officials are in a 2-day meeting to discuss their outlook and plans.

I managed to sneak into the meeting yesterday and overheard the following:


Fed Guy 1: What are we going to do?
Fed Guy 2: (quietly) Nothing.
Fed Guy 1: What are we going to say?
Fed Guy 2 (a little louder) Nothing.
Fed Guy 1: Nothing? Why?
Fed Guy 2: It's working, stupid.




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