Setting a New Speed Record for Being Wrong

Okay, so 16 minutes after my last post, Ben Bernanke says he will consider more rate cuts.  Nice, and toss in the commentary that sound like the Fed is taking signals from the TIPS market on inflation, as well as the commentary in the minutes that some members were leaning toward cuts in the Fed funds rate.

The key here is how much of the loosening they allow to work its way into the banking system, versus how much they put into the intervention programs.  So far, it hasn’t been much.