"...some inflation risks remain" but that inflation pressures "seem likely to moderate over time."
Safe enough language from the Fed yesterday…interestingly, the markets interpretted the hold on rates and the accompanying language to say, "whoa, we'd better be careful--this ol' economy thang may be in a bit of trouble." The markets reflected that sentiment with a close to the downside.
We’ll also be watching the grammar of The National Hurricane Center as it updates its 2006 storm predictions this morning.
In May the NHC predicted 16 named storms, 6 of them major hurricanes. Last week, Colorado State University Professor William Gray dropped his prediction from 9 hurricanes to 7 and from 5 major hurricanes to 3.
Speaking of blowhards, Atlanta, Georgia Rep. Cynthia McKinney is controversial and outspoken, independent and unrepentant...and now unemployed...For the second time in three election cycles, McKinney was defeated in a Democratic primary…
Senator Joe Liebermann was also defeated in yesterday’s primaries…his 18-years of experience negated by his stand in support of the Iraq War, his seat taken by a political novice tapping into anger against Liebermann’s support of the war…
Running as an Independant may be the smartest thing he's done in a while.
And in another example of CNN’s bias, a new poll commissioned for the network by the Opinion Research Corporation shows 60% of Americans oppose the U.S. war with Iraq, the highest number since polling on the subject began with the commencement of the war in March 2003. Most respondents also said they would support the withdrawal of at least some U.S. troops by the end of the year.
It’s a good thing the war isn’t run by popular opinion or polling results. Wonder what the poll would reveal of how many Americans feel safe in this country…and how safe might we feel if the US cut and run in Iraq, handing a defacto win to Terrorism.
Think that could never happen?
Right off this morning's news sources comes this tidbit, that rose the shorthairs on the back of my neck:
"The FBI and immigration agents are hunting for 11 Egyptian students who failed to show up at a Montana college as scheduled. The FBI has issued a nationwide "be on the lookout" alert to law enforcement across the country with the students' names, dates of birth, passport numbers and pictures.
"The students, all male, were part of a group of 17, all of whom had valid student visas and arrived at JFK International Airport in New York on July 29. Six of them then did go to Montana State University as part of an exchange program."
You think these 11 Egyptians got lost...or re-directed to some other purpose?
You tell me.
We are traveling to New York City today for our MoneyGame trip to Wall Street. Tomorrow morning’s show will be broadcast from the financial district of New York.
I'll see you on the Radio.