Fed boosts benchmark interest rate one-quarter point to 5 percent

[Roon]

The Federal Reserve Tuesday raised short-term interest rates for the 16th straight time Wednesday amid widespread speculation that policy-makers were ready to step aside, at least for a while.

Fed Chairman Ben Bernanke and his colleagues raised the benchmark overnight lending rate to an even 5 percent, its highest level in five years, pushing up borrowing costs for businesses and consumers across a wide range of loan types. Many analysts expect central bankers to pause and take no action at the end of their next scheduled meeting June 30, although the result probably still depends heavily on whether economic data over the next six weeks continue to show the moderating growth that most forecasters expect.

http://www.msnbc.msn.com/id/12721288/

[wakeme2008]

1. Me thinks the Fed smells Inflation coming

:(

[Roon]

2. Yeah, I really don't know what this meant

I was hoping to get some answers in this thread

[On the Road]

4. He's Taking the Punchbowl Away

Just when the party gets going. That's the Fed Chairman's job, at least as Greenspan famously phrased it. (Or was that Volcker?)

[kysrsoze]

3. I'm a bit shocked that Chopper Ben is doing what likely needs to be done

He seems to be showing fiscal responsibility - perhaps more so than Greenspin.

[Idioteque]

5. Ben Bernanke is a bright guy...he knows what he's doing. n/t