ALL THAT CASH IS BARELY ENOUGH TO COUNTER THE GLOBAL DEFLATION:

Federal Reserve leaves interest rates near zero (Dion Lee, 9/24/09, LA Times)

The Federal Reserve said Wednesday that it would keep short-term interest rates near zero for the foreseeable future, even though the central bank acknowledged that the economy was recovering from its long downturn.

The announcement after a two-day Fed meeting makes clear that the agency is in no hurry to raise interest rates despite concerns that the federal government's soaring deficits and the Fed's extraordinary stimulus measures will eventually drive up inflation.

Oil stays below $69 as US crude supplies jump (GEORGE JAHN, 9/24/09, Associated Press)

Oil prices dropped further below $69 a barrel Thursday, after an unexpected jump in U.S. crude inventories suggested consumer demand remains in the doldrums.

Posted by Orrin Judd at September 24, 2009 7:13 AM