Wednesday, December 16, 2009

No Chance of Fed Discount Rate Hike, Today

I have seen some reports suggesting the Fed might increase the discount rate at the conclusion of their two day meetings today. No Chance.

Before such a rate change comes, the Fed will signal such through speeches and background leaks to the press. There will be no surprises, especially with Bernanke's re-nomination vote just ahead. He isn't going to rock the boat before that little item is put to bed.

No discount rate cut today.

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