Tuesday, March 18, 2008
Tweedledumb
Salon:
Federal Open Market Committee (on Tuesday):
John McCain was in Iraq on Monday. But his senior policy adviser, Doug Holtz-Eakin, released a statement:Senator McCain has complete confidence in Chairman Bernanke and the actions of the Federal Reserve, and is committed to ensuring the economy continues to grow -- because no government program or policy is a substitute for a good job. John McCain understands the federal government's responsibility to ensure the stability of the US financial system, and is equally committed to protecting the pocketbooks of hardworking American families.
(h/t Suburban Guerilla)
Federal Open Market Committee (on Tuesday):
Recent information indicates that the outlook for economic activity has weakened further. Growth in consumer spending has slowed and labor markets have softened. Financial markets remain under considerable stress, and the tightening of credit conditions and the deepening of the housing contraction are likely to weigh on economic growth over the next few quarters.
Inflation has been elevated, and some indicators of inflation expectations have risen. The Committee expects inflation to moderate in coming quarters, reflecting a projected leveling-out of energy and other commodity prices and an easing of pressures on resource utilization. Still, uncertainty about the inflation outlook has increased. It will be necessary to continue to monitor inflation developments carefully.
(H/T The Big Picture)
