How'd the Fed Get It So Wrong?
When, in August of 2007, I went on CNBC's "Street Signs" and screamed "they know nothing," my now famous rant about how the Fed was way behind the curve on the coming housing crisis, I had one goal in mind: to get the Fed to cut interest rates and to cut them fast.
I didn't know at the time, but I sure succeeded in getting the Fed's attention as we know from the release of the 2007 transcripts on Friday. Except it wasn't the kind of attention I sought. I became a laugh line at the subsequent meeting, as someone who was strident and wrong about the shape of the markets to come....595 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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