Market update

Inflation ripping: Oil up, grains and commodities up, and dollar down, as continued US demand at higher prices for energy transfers more $US to foreigners

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WSJ: Taul Paul chimes in

The FOMC take this very seriously: Volcker’s Demarche On the dollar, Mr. Volcker’s blunt talk of crisis is a welcome tonic to the devaluationist consensus

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Plosser the hawk

Plosser, Dissenting Fed Voter, Says Price Stability Is Priority By John Brinsley March 28 (Bloomberg) — Federal Reserve Bank of Philadelphia President Charles Plosser, who

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Changing dynamics for the Fed

Cutting 75 basis points rather than the expected 100 basis points gave the Fed positive near term reinforcement from market participants: Dollar went up Food/fuel/commodities

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FOMC

Karim Basta: Further cut to gwth outlook Financial conditions tighter and housing getting worse Inflation receives greater concern than prior statement Conclusion: downside risks predominant

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