Bloomberg reports that it's going to be hard for Bernanke to raise rates in the near-term future as the financial sector fights for its life:
"``The Fed's message that substantial downside risks have diminished now just seems completely ill-timed,'' said Brian Sack, senior economist at Macroeconomic Advisers LLC. ``It is hard to see them tightening anytime this year.''
Momentum for a rate cut seems to be declining:
"Traders, who last month foresaw an interest-rate increase as soon as August, now anticipate the Fed will hold off until October, with the chance of a move by year-end dropping to 67 percent from 100 percent, futures contracts show."
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