WASHINGTON (MarketWatch) -- Several members of the Federal Reserve Open Market Committee do not appear as sanguine about inflation expectations as Fed chief Ben Bernanke, according to the minutes of the June meeting released Thursday.
Overall, the minutes seem to have a slighty more hawkish undertone than Bernanke's testimony on Capitol Hill this week, suggesting some discomfort among Fed officials over outlook for inflation and inflation expectations.
That gave us a dip, but markets have dismissed it in the final hour. This unbridled enthusiasm and total lack of fear is what bubbles are made of.
MSFT is making new highs, but GOOG is a little more cautious ahead of earnings. Overall, most traders feel that we will beat the whisper as they keep buying every single dip. Sucker rally? We will soon find out.
Overall, the minutes seem to have a slighty more hawkish undertone than Bernanke's testimony on Capitol Hill this week, suggesting some discomfort among Fed officials over outlook for inflation and inflation expectations.
That gave us a dip, but markets have dismissed it in the final hour. This unbridled enthusiasm and total lack of fear is what bubbles are made of.
MSFT is making new highs, but GOOG is a little more cautious ahead of earnings. Overall, most traders feel that we will beat the whisper as they keep buying every single dip. Sucker rally? We will soon find out.
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