The Punch Bowl Is About To Be Taken Away: The Fed Meets Monday To Talk About Interest Rates

Denninger shares the news. 

It was a former head of the Fed who said the crux of his job was 'knowing when to take away the punch bowl'--i.e. tighten down the money supply before inflation has a chance to take hold, or bubbles are created. One main means of doing this is to raise interest rates they charge to the banks they serve.

With a DJIA touching 11,000 with almost zero, zippo, nada in the real economy that normal humans live in justifying it, and ObamaCare about to suck up any spare dollar that isn't nailed down, it may be time to pack that sucker up, and send the partiers home to sober up. Is that black coffee we smell brewing?

Government in the Sunshine Meeting Notice

Advance Notice of a Meeting under Expedited Procedures

It is anticipated that a closed meeting of the Board of Governors of the Federal Reserve System at 11:30 a.m. on Monday, April 5, 2010, will be held under expedited procedures, as set forth in section 26lb.7 of the Board's Rules Regarding Public Observation of Meetings, at the Board's offices at 20th Street and C Streets, N.W., Washington, D.C. The following items of official Board business are tentatively scheduled to be considered at that meeting. Meeting date: April 5, 2010 <!-----------This is the bordered table-------------------------> Matters to be Considered: 1. Review and determination by the Board of Governors of the advance and discount rates to be charged by Federal Reserve Banks. A final announcement of matters considered under expedited procedures will be available in the Board's Freedom of Information and Public Affairs Offices and on the Board's Web site following the closed meeting.