« My Favorite Links | Main | The Fed Pauses »

At 2:15 we'll find out what the Fed will do. For the first time in a while, there's actually some drama to a Fed announcement.

According to the latest futures contracts, the market believes there's a 21% chance of a rate hike. Personally, I'm a little baffled. It's seems pretty obvious that the Fed needs to get rates higher. We'll know more this afternoon.

Posted by edelfenbein at August 8, 2006 11:04 AM