Tuesday, August 9, 2011

Sanity Check

The Fed indicated today that it was likely to keep rates at an exceptionally low level until at least mid-2013. The market listened and did Ben's bidding. My take: the economy is teetering and recession is likely. In other words, whatever your strategy was yesterday, I don't think anything that happened today (between the market shooting up and the Fed announcement) should cause it to change.
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