Meanwhile, Ben Bernanke, The rANT's favorite whipping boy, admitted today that "Broader economic recovery will not happen right away.ï¿¼ Export sales, a recent strength, are expected to slow, and labor, housing and credit markets will not recover quickly.
On the plus side, oil has fallen below $75 a barrell for the first time in more than year, and that is helping to tame inflation.
And there is some indication of thawing in the credit markets, with the overnight Libor dropping to 2.14% from 2.18% on Tuesday and 5.09% last Thursday.
So, where does thleave us? Frankly, The rANT is running out of answers. But we'll do our best to keep you up to date on the continuing craziness.
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