Buffett is buying common stocks. Indie Research.
The Fed is expected to look to new policy tools since interest rate manipulation is increasingly ineffective. My question is: How does the Fed plan to shrink its balance sheet once the economy begins to recover without killing the recovery? Maybe that is a "we'll cross that bridge when we get there" situation. Bloomberg.
The Bush administration is sending mixed signals about its intentions for Detroit. GM and Chrylser must feel like love-struck teenage girls who can't determine if their beau has reciprocating affection. They are resigned to picking pedals from a flower; he loves me, he loves me not, he loves me, he loves me not... AP.
The Fed continues to surprise. Fed Funds target lowered to an unprecidented range of 0.0%-0.25%. AP.
Here is the text of the FOMC statement. Yahoo Finance.
Great opinion piece about Detroit from the Wall Street Journal. $$$ might require a subscription.
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