Beige Book Underscores Dilemma for Fed Officials

Posted by Louis Navellier on 7/23/08 11:42 am

The Fed’s Beige Book report today is a bad sign and indicative that the Fed may not raise key interest rates, despite the fact that the internal disagreement between Fed officials is becoming more public.

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Posted by aWriter on 7/23/08 7:46 pm

May they disagree and bicker forever just so long as they stop doing anything. They, FED officials and other govt wonks, do the right things so rarely that they are simply a danger to us, our economy and our freedom.

Posted by DWD on 7/23/08 8:31 pm

I agree, aWriter.  Some time ago I opined in a note to Patrick O’Connor that Greenspan’s Fed was like a blind man negotiating a set of hotel hallways.  They’d pick a direction and keep going until they’d crash into something.  Then they’d pick another direction and repeat the process.  Now it seems we have the proverbial loose cannon, firing in all directions, and apparently causing all sorts of problems whatever they do.  So I, too, am coming to the conclusion stability is what’s lacking and most needed.

Regards,

DWD

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