February 19, 2010

Wholesale Price of Money Goes Up (A Little)

Fed Rate Bump Today’s leading financial stories are: a) the Federal Reserve’s apparently surprise decision to raise interest rates on short-term bank borrowing; and b) the market’s reaction to same (playing out now). My take? The action itself is relatively trivial: hiking rates on some arcane, overnight interest rate from .5% to .75% (yes, that’s...
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