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About that recovery…

Friday, July 16, 2010, 8:30 AM
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The recently-released Federal Reserve minutes of the June 22/23 meeting revealed that the Fed is confused and concerned about the economic recovery.

Yes, there are glimmers of light in the reams of data, but there are also plenty of warning signs in equal, if not greater, measure.

 

As an aside, I happen to think it is a very good idea to read the entire Fed minutes from time to time, and not just the shorter press releases.  The longer minutes provide the important insight that Fed meetings consist of about 65 people, sitting around in a conference room listening to report after report about economic trends for two whole days.  By the end of it, they must be exhausted and a bit numb.

 

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