I was terribly remiss in failing to immediately report that the Federal Open Market Committee (”The Fed”) adjourned it’s third monetary policy meeting a few weeks ago and held the Federal Funds Rate (short term rate applicable for bank-to-bank loans) at 5.25%. Prime rate held at 8.25%.

It’s official - the world is ending. Just kidding, but financial reports have one executive after another echoing reports of a credit crunch, irresponsible lending, real estate bubbles, and other such fire and brimstone. Personally, I’m still not worried - I’m in it for the long-term and I have no ARMs resetting anytime soon…caveat - […]