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It's nice to know that the Fed is taking (exotic home loans) seriously,

Christopher Low

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It's nice to know that the Fed is taking (exotic home loans) seriously. It looks like (Greenspan's) trying ... to squeeze out the speculative element in housing; they don't want a repeat of the stock bubble.
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In today's market, everyone is a Fed-watcher. Hopefully we will not lose any transparency and will lose some of the volatility.
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The meal she served was unlike any I had encountered in Vienna, or anywhere else: red seaweed garnished with pickled radishes; black rice noodles and spotted mushrooms boiled in wine, grilled squid stuffed with flying fish roe; and yellow cherries sauteed in butter. The hot bread was laced with cinnamon and paprika. The goat cheese was coated with thyme honey.
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The Fed would only pause on the GM news if there were some indication that the news threatens the health of the economy as a whole or the health of the financial markets as a whole.
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We suspect that if the economy remains as soft as it has been lately, the Fed may very well decide a break is in order somewhere along the way.
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