Tuesday, February 12, 2008

Sounds like a high stakes poker game

The central bankers can't all be right

So who has got it wrong? The honest answer is we don't know and are unlikely to know for some time. In the short-term, the Fed would consider it a job well done if lower short-term interest rates helped stabilise the housing market; it would, though, be a pyrrhic victory if cheaper money simply led to another episode of the bubble economy.

Posted by stevie dee @ 02:57 AM (429 views)
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