Does the Fed need to lower interest rates, next time they meet, on September 18th?
Many in the financial markets think they do.
Others aren’t so sure.
Including the Fed, apparently!
According to the Globe:
“Outside of real estate, reports that the turmoil in financial markets had affected economic activity during the survey period were limited,” the Fed said in its so-called beige book summary of anecdotal economic conditions.
What do I think?
Seems premature to start messing with interest rates. I assume smarter people than I know what’s going on. If they think the economy can withstand the pressures of a slower real estate market, then why mess with things?
There’s always next month, right?
(What we really have to fear, I think, is that Congress is going to get more involved. I don’t think they’ll be able to help themselves. At our expense.)
More: Tight credit hurts housing, little else – Reuters, by way of The Boston Globe
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