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NEW YORK (Dow Jones)--The following is the verbatim text of the Federal Reserve's decision on interest rates released Tuesday, Dec. 12:
The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent.
Economic growth has slowed over the course of the year, partly reflecting a substantial cooling of the housing market. Although recent indicators have been mixed, the economy seems likely to expand at a moderate pace on balance over coming quarters.
Readings on core inflation have been elevated, and the high level of resource utilization has the potential to sustain inflation pressures. However, inflation pressures seem likely to moderate over time, reflecting reduced impetus from energy prices, contained inflation expectations, and the cumulative effects of monetary policy actions and other factors restraining aggregate demand.
Nonetheless, the Committee judges that some inflation risks remain. The extent and timing of any additional firming that may be needed to address these risks will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Susan S. Bies; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; Sandra Pianalto; William Poole; Kevin M. Warsh; and Janet L. Yellen. Voting against was Jeffrey M. Lacker, who preferred an increase of 25 basis points in the federal funds rate target at this meeting.
"Trade What Is Happening...Not What You Think Is Gonna Happen"
Jeff Skilling's brother is chief weatherman on Chicago's WGN TV. I saw a televised interview with him some months ago. He was publicly supportive, but ...
Jeff Skilling's brother is chief weatherman on Chicago's WGN TV. I saw a televised interview with him some months ago. He was publicly supportive, but ...
Well...I can't hold him personally accountable for what his brother did...But Lay's wife...C'mon...Either she belongs in an asylum with Cosmo for being out of it or she belongs in jail.
BTW...thanks for teaching me a new term...Had to look it up though..."Thread Troll"...First site that popped up was Insecure.org....Very apropos for our misguided Cosmo
"Trade What Is Happening...Not What You Think Is Gonna Happen"
Doug,
Give her a break. Remember she (Linda Lay) told us she's lost everything. She could become a porn star with that name. Oh , she forgot about the annuity that will pay her 900K per year starting in '07.
Re: Ken Lay, I don't believe it was natural. This guy was a capitalist soldier, fully sold out to the Big Bucks, and finally a convicted white-collar criminal. He wasn't going to let a lifetime of financial accomplishments be fully taken away. His remains were cremated. Big surprise. The Lays had more than one home concurrently in Aspen over the years (reference: http://www.khou.com/topstories/stori....29d73d64.html ).
I'm thinking the Lays had tentacles all through Aspen at the time the s**t hit the fan. There are plenty of ways pharmaceutically to trigger a MI. The guy already had coronary artery disease and hosted a couple of stents, but the news reports made a point of saying Lay showed no signs of ill health during the trial. The coroner had "plausible deniability."
Re: Ken Lay, I don't believe it was natural. This guy was a capitalist soldier, fully sold out to the Big Bucks, and finally a convicted white-collar criminal. He wasn't going to let a lifetime of financial accomplishments be fully taken away. His remains were cremated. Big surprise. The Lays had more than one home concurrently in Aspen over the years (reference: http://www.khou.com/topstories/stori....29d73d64.html ).
I'm thinking the Lays had tentacles all through Aspen at the time the s**t hit the fan. There are plenty of ways pharmaceutically to trigger a MI. The guy already had coronary artery disease and hosted a couple of stents, but the news reports made a point of saying Lay showed no signs of ill health during the trial. The coroner had "plausible deniability."
My wife doesn't even believe he's dead...It would be pretty easy to find someone to take your place...Find some guy who is dying of cancer and has about 3 months to live...Pay his family a few million bux and cremate the body...Pay off a coupla doctors and some podunk coroner and you're sippin' Mai Tais in your Angolan Villa for the next 20 years.
"Trade What Is Happening...Not What You Think Is Gonna Happen"
At his memorial service it was said "An overzealous federal prosecutor and the media have vilified a good man" another "it was character assassination"
Interesting day...I've been thinking about this for a while on the Day trade front.
One of my lists each morning are what I call Morning Movers...Stocks that are up pretty good pre-market. I make a list and watch them the first 20-30 mins along with all my other lists. On this list which may also include others that I see gapped I look for p/b's after about a half hour and then wait to see if any make another move which I can get some of.
Although many never make another move or I'm not there to see it, I've been thinking about doing the opposite...This morn I put together a list of 10 that were down quite a bit after 5 mins and then added 2 more after 20 mins. I looked for those that opened and then went down or those like ADCT and VRTX that gapped down.
I then watched for them to reverse up after the first 1/2 hour.
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