DURST: The Federal Reserve

For all you savvy market watchers who regularly turn to the Durst Report for your sage financial advice, it is now time for me to patiently but with my typical clarity explain what happened with the Federal Reserve's recent increase in the short term interest rate. It's bad. But not as bad as it might have been. Oh, it could have been worse. But not by much. More than a little perhaps. Since its been expected for so long, most of you regular subscribers should have been anticipated it, thus blunting it's potentially catastrophic consequences. That is, unless you foresaw a larger increase than the quarter point advocated by Alan Greenspan in which case you may have overextended and may be hurting bad. Either really bad or not so bad. But not for long, as it's expected a larger increase will be announced soon. Not real soon, of course, unless strong growth and low unemployment conspire to heat up the economy too fast, making it both imperative and then again, not. A constant reassessment of your position is integral to your portfolio's stability but it must be tempered with a steadfastness and confidence that the market will rebound, unless you're selling short. In which case you're screwed. Will Durst fits into the last category.

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