Rates are likely to move even higher today since some improved economic news was reported. Interest rates like dismal news, not sunny bright uplifting economic forecasts. Fed Chair Bernanke gave positive comments about the recession lightening, a few less people were out of work, at least less than expected as reported by ADP, and Bank of America reported less claims last month.
The recession is not over – but interest rates will go up as a result of this news.
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