If you'd have done 50 bp early on....
We would not have the current situation where rates will have to go MUCH MUCH HIGHER TO ACHIEVE ANY EFFECT!
THE FED HAS GIVEN UP THE ELEMENT OF "SURPRISE!" AND FOR THAT THEY ARE PAYING A DEAR PRICE WITH THE MARKET!
SO, ALAN, IN AUGUST ANOTHER 25 PB....PER USUAL? IF SO? PLAN ON TAKING FED FUNDS TO 6% BEFORE CREDIBILITY RETURNS.......!
IN SHORT, PEOPLE DON'T FEAR THE FED....THEY KNOW THE FED IS THE "PATSY" OF WALL STREET AND THE MARKETS.....
