Lou Barnes says we should (still) be concerned about a tight credit market and that the Fed’s doing darn good (he’s of the minority view on that one, I think). One thing he doesn’t want to happen? Bailouts, handouts, and deficit spending.
The Fed is playing a very dangerous game exceptionally well. Inflation is [...]

Is the US Central Bank doing a good job of managing the economy?
I don’t have a problem with it!
Others disagree. Or, disagree with the disagreement.
Don’t blame Fed for weak dollar
Commentary: Interest-rate cuts did not cause dollar’s decline
By Lou Barnes, Inman News
Long-term interest rates stayed about the same (mortgages 6 percent, 10-year Treasury 3.84 percent) [...]

Still teetering, I guess.
(But, whether or not the United States is in a “recession” is irrelevant, isn’t it, if you’re out of a job or can’t sell your home, right?)
The takeaway from below is, if you wonder where the US economy is going, it’s an unknown. Certainly, not “up, up, up”. Any forecast [...]

U.S. Sen. Pete Domenici (R-N.M.), after a private meeting with Federal Reserve Chairman Ben Bernanke, said the central bank chief anticipates signs of a rebound in the housing market by the end of 2008.
Concerns remain that the market downturn will cause an economic recession, which prompted the Fed to cut interest rates recently.
Meanwhile, despite an [...]

The Mortgage Bankers Association (MBA) is out with its 2008 forecast.
I like their chief economist, Doug Duncan. His guess is as good as anyone’s.
Highlights from the MBA’s report: Duncan expects another reduction in the Fed Funds rate, at the end of this month; he expects the economy to turn positive toward the third quarter, [...]

It looks as though Ben Bernanke of the Federal Reserve has decided to drop interest rates (again) at the end of the month.
Fed vows ’substantive’ action to avoid recession - By Barrie McKenna, The Globe & Mail
The Fed is “prepared to act in a decisive and timely manner … to counter any adverse dynamics that [...]