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#1 Rogerdodger

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Posted 15 February 2007 - 11:11 AM

I try not to listen to these jawboners but I had to laugh when Barney Frank asked Uncle Ben: "If you think inflation may be higher than you think it is, then why don't you think it is?" :lol:

#2 dcengr

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Posted 15 February 2007 - 11:14 AM

OMG when a republican asked him shouldn't we put SS into the stock market because of better return, Ben said: "Past results are not a guarantee of future performance" i.e., don't go there.
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#3 arbman

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Posted 15 February 2007 - 11:46 AM

Fed pumped total of ~ $40B in temp repos, about $16.5B will expire tomorrow, the remaining goes until Feb 22 and Mar 1. This increased Fed activity has probably to do with these gov't meetings, the dollar continues to respond even though there is no POMO so far...

- kisa

#4 dcengr

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Posted 15 February 2007 - 12:23 PM

Ok heard Ben say now "a sell off in securities will result in Fed raising rates". Now that's expected, but for him to admit it.. wow.
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#5 gm_general

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Posted 15 February 2007 - 01:00 PM

Ok heard Ben say now "a sell off in securities will result in Fed raising rates".

Now that's expected, but for him to admit it.. wow.



But won't the Fed raising rates result in a sell off in securities? Geez, I am gonna dust off that transitive property from math class...

#6 arbman

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Posted 15 February 2007 - 01:05 PM

Ok heard Ben say now "a sell off in securities will result in Fed raising rates".

Now that's expected, but for him to admit it.. wow.


What da?!?

#7 dcengr

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Posted 15 February 2007 - 01:27 PM

Ok heard Ben say now "a sell off in securities will result in Fed raising rates".

Now that's expected, but for him to admit it.. wow.


What da?!?


In context, he was replying to the question regarding foreign buying of US treasuries. If the foreign buying were to stop or the foreigners would sell (which would increase rates anyways), Ben said he would raise rates to make treasuries more attractive. Thats all under the assumption that foreign support of US debt stops.
Qui custodiet ipsos custodes?