June 30, 2004

A Quarter Point
— 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.

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

Posted by: Ace at 09:45 AM | Comments (7)
Post contains 116 words, total size 1 kb.

1 Lovely. Just as we're about to apply for a new mortgage.

Is there a sign stuck to my back that says "kick me?"

Posted by: Scout at June 30, 2004 09:47 AM (JQeMB)

2 Sorry to hear about the bad timing. Still, on the bright side, rates are still lower than they've been in years.

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