Beside calling into question the skilz of my forecasting brethren (I guess they've been drinking a bit too much of the Roubini Koolaid), I'd also like to say the following to Fed Chairman Bernanke:
DON'T CUT RATES NEXT WEEK!!
You have to take back control of monetary policy from these guys:
Wednesday's advance was fed by investors betting that the Fed might be generous and cut rates a half percentage point, or, in market lingo, 50 basis points.
"I do believe the market wants 50, that the Fed needs to do a lot more work, and that a quarter is not going to do it," said Greg Church, chief investment officer of Church Capital Management.
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