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No Rate Cut Anytime Soon

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by Matt Cooper
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Jul 06 2007 12:00am EDT

No Rate Cut Anytime Soon

The new employment numbers are out showing job growth higher than expected. I just don't see any possibility that the inflation-obsessed fed is going to ease up on rates. They don't seem alarmed by the housing slump, the subprime woes or the sluggish pace of growth. They are worried about inflation, even though the best way to combat the higher cost of energy is not through the blunderbuss weapon of interest rates. At this point, I think it's going to take a real shocking jobs number, a big correction int he market and more signs of trouble in housing before we get a rate hike out of Bernanke.

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