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We share the market's overwhelming expectation that the Federal Open Market Committee (FOMC) will leave the fed funds target rate unchanged at 5.25%-5.50% at the conclusion of its April 30-May 1 meeting.
In some cases you can not do that legally but in san jose and san diego, in california, that's what the voters said they wanted to do. they already had services cut to the bone. now they say it is time to cut those pensions. this essentially, this is a warning, a dire warning from a blue chip panel that says states are in financial crisis and it is going to get worse. that is a big deal on a national scale because we already got budget problems in washington, d.c. at the federal level. martha: then you've got health care which pushes back health care on the states which many said they simply c...