January 31st, 2008

The speaker event was a success....so relieved right now, and maybe even a little inspired.

Fed statement:
- market anticipating another 25bps at next two FOMC meetings
- no mention of inflation as opposed to Dec 11th and Oct 11th communmiques, now says "expects inflation to moderate in coming quarters, but it will be necessary to continue to monitor inflation developments carefully"
- not much of a productive day