Let's look a bit into the future- specifically over the next two days when Fed policy makers will be meeting. On Wednesday at 2:15 (same Bat-Bernanke time, Same Bat-Bernanke channel) the Fed is expected by economists to announce no change in its benchmark overnight lending rate known as the fed funds rate. We also foresee no change in the Fed's discount rate. A token dissent in favor or a rate increase from either Fisher, or Plosser shouldn't be ruled out.
The Fed's statements will likely echo Bernanke's recent comments about diminishing risks of a sharply slower economy... (Please click here to read further by subscribing for only 80-cents a day. Thanks!)