By Jon D. Markman, RealMoney.com
Financial speculators are beating their tom-toms with special enthusiasm today over the possibility that the unexpectedly harsh effects of Hurricane Katrina will lead the Federal Reserve to pause its campaign of hiking interest rates.
In an interview on CNBC, portfolio manager Paul McCulley, who helps Bill Gross steer tens of billions of dollars worth of bond bets at Pimco, called Fed action “finished.”
For this complete story, please visit Subprime Lenders Up on Hope Fed’s Done.
