So when do we hear from the Fed chairman????

spanone

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Thu Jun-29-06 12:55 PM
Original message

So when do we hear from the Fed chairman????

Isn't Bernanke due to raise the interest rates today? Any word yet? 1/4 point? 1/2 point? If it's a half point, you can bet the market will tank bigtime.

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Matariki

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Thu Jun-29-06 12:57 PM
Response to Original message

1. the market is doing weirdly well (today) considering

i think people are possibly living in some sort of (un)reality bubble.

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stop the bleeding

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Thu Jun-29-06 12:58 PM
Response to Original message

2. 2pm EST

Edited on Thu Jun-29-06 12:58 PM by stop the bleeding

and in addition to the % point increase investors are looking at the language in the report for the August meeting to see if the FED will stop or keep going

Stock thread here at DU

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=2362581&mesg_id=2362581

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spanone

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Thu Jun-29-06 12:59 PM
Response to Reply #2

3. Thanks, just around the corner.

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swag

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Thu Jun-29-06 01:00 PM
Response to Original message

4. 2:15 eastern.

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newportdadde

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Thu Jun-29-06 01:02 PM
Response to Original message

5. I can't see him going 1/2.

I mean at the rate they print money and inflation they are justified to do it but I don't see it happening. Instead I see that rumor/speculation as a calming effect when the 1/4 comes and the verbage suggests another 1/4 on the horizon.

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spanone

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Thu Jun-29-06 01:04 PM
Response to Reply #5

6. That's the Rove pattern, speculate the worse and whatever follows

seems acceptable.

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spanone

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Thu Jun-29-06 01:04 PM
Response to Reply #5

7. dupe

Edited on Thu Jun-29-06 01:05 PM by spanone

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Nimrod2005

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Thu Jun-29-06 01:06 PM
Response to Original message

8. 2:15 PM

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harlinchi

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Thu Jun-29-06 01:25 PM
Response to Reply #8

9. The market took off after the Fed raised rates.

I believe the market responds positively to negative (for us) news. Let unemployment or interest rates rise, let a multi-thousand layoff occur or let bad stuff happen to a large number of regular Americans and the market will soar! The Dow Jones was up about 75 points prior to the announcement; it's up over 175 points now!

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stop the bleeding

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Thu Jun-29-06 01:28 PM
Response to Reply #9

10. that is because of the language in the report

and the market had already put in a builtin sell orders from previous sessions - investors were expecting the rate increase and the news in the report is not as bad as they feared for the August meeting so hence the free ponies and all of the rolling around in money on the floor. hope this explains it a little better for ya! :)

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harlinchi

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Thu Jun-29-06 01:32 PM
Response to Reply #10

11. Yup, I see.

Thanks for the explanation. They prepared for the announcement in earlier sessions.

I appreciate it when those who know inform those of us who don't!

I still don't trust it. I guess I'm a market cynic!

Thanks, again.

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Matariki

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Thu Jun-29-06 01:52 PM
Response to Original message

12. does this mean that credit card rates will go up to 40% now?

seeing that they were at an all time high when interest rates were at an all time low.

just wondering.

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Nimrod2005

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Thu Jun-29-06 02:36 PM
Response to Reply #12

14. Yes and it will happen as soon as tonight...Check your

statement tomorrow morning when you wake up. I am still getting 1.75% on my savings account however.

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Matariki

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Thu Jun-29-06 03:12 PM
Response to Reply #14

16. emmigrantDirect is paying 4.8%

so are some other banks.

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Nimrod2005

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Thu Jun-29-06 03:42 PM
Response to Reply #16

17. Regular savings account?

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Matariki

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Fri Jun-30-06 01:09 AM
Response to Reply #17

19. yeah

www.emmigrantdirect.com

i have an account there and am happy w/ it. - this feels like spam. sorry.

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sinkingfeeling

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Thu Jun-29-06 02:33 PM
Response to Original message

13. Central bank policy-makers raise key interest rate to 5.25 percent.

http://money.cnn.com/2006/06/29/news/economy/fed_rates/index.htm?cnn=yes

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ProdigalJunkMail

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Thu Jun-29-06 02:36 PM
Response to Reply #13

15. and the Markets have taken off

Dow up almost 200 and NASDAQ up almost 30...

sP

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katty

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Thu Jun-29-06 04:07 PM
Response to Original message

18. i think 1/4

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