What will the FOMC be giving as a Christmas gift on Dec. 13?
The Federal Open Market Committee meets for the final time for 2005 on December 13 and we can all expect yet another increase in rates. Looks like Mr. Bernanke may be giving everyone a lump of coal, a 50 basis point increase, for Christmas. This hopefully would be the end of rate hikes for a while, but who knows? I just hope that everyone buys me a Christmas present before they realize that their credit card rates will be going up. I hope Santa gets a good paying off-season job to pay his bills.