FED's day

FED... FED is in a box. They kept rates steady.

They can not raise, because will kill the stockmarket.

They can not cut, because oil and inflation will go through the roof. Remember, the inflation is not the kind'a inflation from 1970's, is because of those greedy oil companies, with their huge profits...
...but there are good news - they are smarter now. They know how to fix the deflation problem, only if they create enought inflation, but at the same time they need to look "hawkish", and speak what they are concern. As Peter Schiff say - If they were concern about inflation, they would not cut at the first place.

However, the marked cryed - CUT, CUT, CUT... Now, same people scream - RAISE, RAISE, RAISE... I guess same people screamed "Crucify him" almost 2000 years ago?

I say - buy gold now :-) or at least go out of the dollar.

What others say:

Fed keeps rates on hold, plus thoughts on the post-meeting statement
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/06/fed-keeps-rates-on-hold.html

Home Sales Confirm that the US Is Now in Recession
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/06/home-sales-confirm-that-us-is-now-in.html