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Tuesday, August 08, 2006

Should We Raise Or Should We Pause?

Should we raise or should we pause? That is the tune going through Federal Reserve Governors heads this morning, as the August FOMC meeting is scheduled to start at 9 am Chicago time. Traders have already voted with their trading accounts in the Fed Funds Futures market. Currently, the August contract is giving only a 16% change that the Fed will raise short-term rates 25 basis points today. The final piece data available to help their decision was released this morning, with the release of U.S. productivity growth figures for the 2nd quarter. Read More....