08 Sep 2006 On Hold for Now
Posted at 15:35h in The Friday BriefEverybody’s on hold; from the Space Shuttle Atlantis, to the Federal Reserve. While NASA hopes to launch today at 11:40 after a three year hold, we hope it will take considerably less time to re-launch the economy. The Fed has decided to hold further rate increases until it gets a better picture of the economy’s health. The Bank of Japan, the Bank of England and the Bank of Korea announced a similar strategy this week. Even OPEC is expected to hold oil production steady when they meet next week to see what happens. Doing so would help avoid a supply-driven run-up in prices. So the world watches the economic data to learn just how fast the US and the global economies are slowing.