I wonder if rates go back to 3 to 3.5% what effect that will have, my guess is foot back on Gas…
FED: Guys we were just kidding really about pulling back.
The Fed’s unusual bond purchases have given it far more influence over the market than at past turning points for interest rates. But Fed officials are clearly unhappy with the extent of the reaction to Mr. Bernanke’s statements. On Monday, some top Fed officials made public comments that appeared to be aimed at calming some of the market’s wild selling. Narayana Kocherlakota, the president of the regional Fed branch in Minnesota, said in a statement on the bank’s Web site that the Fed’s recent communications had left the “public with large amounts of residual uncertainty.”
Mr. Kocherlakota emphasized that the Fed still planned to support the economy until it grew significantly stronger.
