You're right, I don't know. My info is a little on on this, but the "talk on the street" (as I understand it) is that he's thinking of raising rates at the end of the year or a year from now. I'm sorry if I implied that he's going to do it _now_.
Jim Devine [EMAIL PROTECTED] & http://bellarmine.lmu.edu/~jdevine > -----Original Message----- > From: Doug Henwood [mailto:[EMAIL PROTECTED]] > Sent: Friday, May 03, 2002 1:44 PM > To: [EMAIL PROTECTED] > Subject: [PEN-L:25653] Re: RE: Oh Six > > > Devine, James wrote: > > >But we are seeing a > >"proletarian recession," a steady and sustained rise in the > unemployment > >rate and, to AG's glee, a move toward above the NAIRU. He's > even thinking of > >hiking interest rates... > > Eh? How do you know? The collective wisdom of Wall Street is that no > such hike is imminent, and in this case, the CWoWS is probably right. > Dallas Fed President McTeer said recently that they wouldn't raise > rates until unemployment was below 5%. In the Fed's entire history, > they've never raised rates until after the peak in unemployment. > > Doug >
