``The Fed said the U.S. economy continues to improve in numerous aspects, but signaled that it wants to see further economic gains and higher inflation before raising rates. Many investors expect the Fed will still lift rates in September or December, but its statement gave no timing for the raise... "Yeah, the economy is improving, but they are not really saying that the economy is taking off here," said Tom di Galoma, head of rates trading at ED&F Man Capital. "If the Fed doesn't raise rates in September, I think we're looking at some time mid next year."'' -- Well duh... as we said here years ago, the Fed will just keep shifting its rationale to keep rates low (first it was the unemployment rate, then other aspects of employment softness, now inflation...), because the real reason is that they don't want to implode stocks and the financial sector...

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