The FOMC had a very downbeat assessment of the economy at their latest meeting. Deflation is a very serious concern and growth is unlikely to return to the economy until 2010. They said credit markets are “still not working well”. They are also seeing subdued demand for their various lending programs.
In other words, they’re out of bullets now and things aren’t getting any better. Full report here:
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.