Monday, December 14, 2009, 11:29PM ET - U.S. Markets Closed.
From The Business Insider, Nov. 4, 2009:
The Federal Reserve just now signaled that it will keep in place monetary policies designed to fight the recession and the financial crisis.
The Fed repeated language in its monetary policy statement that interest rates will stay at a record low for an “extended period." It also reaffirmed that its program to buy mortgage backed securities will remain in place until some time in the first quarter of 2010.
The statement did note that the economy is improving. It noted that the housing market is showing some expansion and consumer spending has increased. It expects inflation to remain "subdued."
As expected, the Fed kept interest rate targets at zero.
Earlier today a source told us the Fed statement would begin: "Information received since the Federal Open Market Committee met in September suggests that economic activity continued to pick up following its severe downturn..." Which is remarkably close to the actual wording. Note, however, that the "severe downturn" has been dropped.
Click here to view the official statement.
More coverage from The Business Insider:
Can I have a 0% loan please? How about passing some of that to us commoners. I keep a mortgage on the house because my investments do better, but I could feel better about spending if you gave me a 0% refinance. Thanks in advance
With 0% rates I can borrow money and follow TurtleTrader's advice! It would be like throwing someone else's money out a window!
When we had Capitalism, we could make investment decisions based on the current and future profits or losses of corporations. Now, Failure is rewarded and prudence punished. If we continue down this road ...
With 0% rates I can borrow money and follow TurtleTrader's advice! It would be like throwing someone else's money out a window!
INFLATION NATION BABY!!!! GLD SLV DBA DBC USO UNG XLB....
HI POPOY!!!!!.....IT'S ME! JORGE....YOU STILL TROLLING ON YAHOO YOU MENCH???YOU ALWAYS WERE A NEEDY WHINER!!! ..SEE YOU TO-NITE AT CLAIRE'S BAT-MITZVAH!!!! OY-VAY!!
Not necessarilly good news. Fed does not see a strong recovery, so job situation doesn't get any better, so consumers do not spend. Hey, if it wasn't for Wall St. pumping & dumping, we wouldn't be having any fun at all.
Better economic conditions won't help most people.. you will just be working harder (and probably for less money) to tread water and keep from drowning in taxes and fees...
Looks like A Cohen is right again a 20% pull back looks like it is in the cards when the dow closes under it 50 day moving average.
"WHEN DID NOAH BUILD THE ARK"??.."BEFORE THE RAIN "BEFORE THE RAIN""..spy game.
I'm out in the trenches everyday and sh!t aint gettin' no better. MFG is still dead. There is no such thing as a "service" economy.
What it means is the economy still sucks
Recession is over. Dow taking off. Unemployment improving. Manufacturing up. Retail up. But... we're gonna leave rates low anyways. F-ing liars. Now I can't even trust the numbers. I don't remember moving to N Korea, but somehow I feel like I'm living there.
Where's the recovery when the market backs off 1250 pts or more. Where's the recovery when true unemployment hits 20%-30%? Where's the recovery when the European banks start to collapse? What's the commercial real estate market going to look like after the above shoes fall into place. And last but not least what caused it all where will US housing be...? Don't like the questions don't read the real story. Where is GS going to be when the Democrates reign in their risk taking. Heck where is GS going to be when their stock trades below $69 a share again after the shell out all their winnings to top brass and pay off Washington DC and SEC.
At some point the market will catch up with the real economy. Planned layoffs were at 55,679 last month, down 16% compared with September and down 51% compared with October 2008. Okay - so we're still planning to lose a lot of jobs on top of actually losing jobs. NICE. JNJ to ax 7,000 MSFT to ax 800 Sprint to ax 100 Time Warner to ax 550 CTA to ax 1800 (Cal Transit) Local governments beginning new fiscal years start layoffs (or California just automatically witholds more taxes and promises to pay back later at zero interest) Etc...
Where are going to pull back because the 401 K money is running scared, scared, terrified. There is so much overhead we have to pull back. And the Contra ETF and their options will give us the reverse leverage we need to squeeze GS and the NYSE traders who jury rig this market higher.
The banks will need to start taking trading losses soon since there is no more room to mark up their crap CDO assets. That bubble will burst big time as the market drifts lower and housing and commercial real estate continue to spiral down as unemployment hits 30%.
They've got to keep us pacified until they hand out those Goldman bonus checks. Then they'll let it crash. Merry Christmas. Uncle Warren will sell you a lump of coal for your stocking. Do you like Uncle Warren's new train set? Where else does one stash $44 billion when they see another crash coming.
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IDIOT SAVANT EXTRODINAIRE - Wednesday November 04, 2009 03:37PM EST
JSUT WATE TIL THAY RAZE RATES; THEN IT WILL IMPLODE....BUT I DONT KNOW ANYTHING I JUST LIKE SEEING MY WORD ON THE YAHOO MESSAGES. UH OH! MOM IS COMING, BYE!!!