June 30, 2004
— Ace 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.
Is there a sign stuck to my back that says "kick me?"
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