The Dow fell below 11,000 today, but then bounced back. The issues?
Ben Bernanke is still gloomy about housing.
Inflation hit its worst rate since the end of the Carter-Reagan recession, which in turn drove down spending by consumers.
The dollar continued to tank against the Euro, which threatens to offset any $10 drop in oil prices. That said, the inflationary push may drive the Fed to raise rates sometime before the end of the year — but, unless the pressure is huge, not until after the general election. Right now, I give 1-5 odds for such a rate hike in that time frame.
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