On Wed, 4 Jun 2003, Doug Henwood wrote:
> Interest rate cuts are nice, but if they come with a deflationary
> stagnation, a la Japan, then a 0.25% fed funds rate won't bring the
> bull back to life.
>
> As Dallas Fed president McTeer said earlier today, the economy needs
> to be growing faster.
>
> Doug
Color me pessimistic, but it looks to me like we're rolling into an extended Japanese-style economic stagnation. How much more home equity can people float to keep the economy kicking?
Miles