Admin

The world just remembered today how those European banks are too SIV'd up to have any appetite for participating in any friendly inter-bank lending (let that darn Central Bank do it if they want!) with Libor agita all over the front pages. And housing figures in the US showed ah, the obvious. And equities sold off. So maybe the crisis is back on. Or the Beige book was not weak enough to absolutely positively guarantee the rate cut that's baked in.

Meanwhile, m* has added links to a few tasty items under the Reading heading, the KC Fed Central Bank Symposium papers are available now, and you can now subscribe to "the long run equilibrium" in your readers or by email.

That is all.