That's the headline in today's WSJ????
Federal Reserve officials are acknowledging increasing weakness in the economy, signaling a willingness to cut rates again at their next meeting. But inflation concerns are rising among some officials, indicating the magnitude of their next move may be a matter of contention...
"The Fed has to be very careful now to add just the right amount of stimulus to the punch bowl without mixing in the potential to juice up inflation once the effect of the new punch kicks in," Richard Fisher, president of the Federal Reserve Bank of Dallas, said in a speech in Mexico City yesterday. Mr. Fisher dissented in the Fed's latest vote, which lowered the interest-rate target half a point.
What tripe! The Fed is worried about the banking system, and they are worried about the deflationary death spiral in housing. And if they are not, they have to be complete idiots. And the staff of the WSJ should quit pandering to these lackeys from the Fed who amplified the current situation by not recognizing it, and acting when all of Wall Street did!