Monday, June 20, 2005

More Rate Hikes Coming

The Federal Reserve sounds like they are specifically targeting the housing bubble by raising interest rates. The various Fed. Governors and Presidents seem to be out there every day saying that they intend to continue to raise rates.

“TOKYO, June 20 (Reuters) - Federal Reserve Bank of Minneapolis President Gary Stern sees no reason for the Federal Reserve to stop raising interest rates now as the economy expands at a desirable pace, a Japanese newspaper reported on Monday.

The Fed's target for the federal funds rate, the rate at which banks lend overnight money to each other, remained low despite a year-long credit-tightening campaign that has brought it up to 3.0 percent from 1.0 percent, the Nihon Keizai Shimbun quoted Stern as saying in an interview.”
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2 Comments:

Anonymous Polar Bear said...

It looks this way.
But they keep testing us bears with .25 hikes instead of .50, how much longer it has to continue !

Media is doing the good job finally I have to admit.

Patience, Polar bear.. patience.

HELOCS adjusting up, IO ARMs starting to adjust in mass in 2006 and 2007.

We'll have our moment of truth...
we'll have it all...

Monday, June 20, 2005 11:01:00 PM  
Blogger Little Silvered said...

The media is doing a good job. They are trying to get on the right side of this trade, unlike 5 years ago when they seemed to be cheerleading.

Monday, June 20, 2005 11:07:00 PM  

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