More Things to Read

David Altig, at Macroblog, has a very good list of recent postings to the blogosphere that are worth looking at.

And right below that posting is his update on probabilities attached to different possible November Federal Funds rates. 4% looks like a prohibitive favourite at this time. And 4.25% looks to be leading the pack for December.

In some ways, I hope these probabilities provide a good forecast. But I confess to being torn: on the one hand, I worry about inflated assets; but on the other hand, I worry about the potential drop-off in aggregate demand as the housing bubble deflates. Being a senior admin with the Fed looks to be a thankless task over the next year or so.