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Good call Earl. I think the even simpler reason is that there is still no
sign of inflation in the US economy, and REAL interest rates (at the short
end) are still higher than they were about a year ago. In other words,
there was no downside to cutting.
Bruce
>Market expects a cut, I think the Fed would have been busy getting any
>contrary word out to avoid a major surprise which might destabilize
markets.
>So I think we'll see a cut and we'll see a sell-off in spoo either way.
>
>Earl
>
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