>It's too late. Interest rate increases today won't affect the flow
>of spending until November.
If that. We had several tightenings last year that seem not to have affected the flow of spending yet. A few quarter point snugs on the funds rate can't stop the mighty juggernaut.
> (On the other hand, they will affect the stock market today.)
That was what was at issue, I thought. I wonder what a 15% market decline would do to electoral politics.
Doug