8 November 2002
Okay, maybe a little bit about oil
The Fed has cut interest rates yet again, by half a point, and the market has responded with yawns. Mark Byron points out that with the federal funds rate down to 1.25 percent, there isn't a whole lot of maneuvering room left for the Fed. The real shot in the arm, says Dr Byron, will come with the neutralization of Iraq, which will take some of the uncertainty out of both oil prices and global trade. Bottom line?
[H]aving a solid success in Iraq will shut up a lot of the Euroweenies and their allies around the world, will lower oil prices and give the world economy a boost of confidence. Right now, Tommy Franks can do more to boost our economy than Alan Greenspan can.
Posted at 7:18 AM to Political Science Fiction