Awaiting Tuesday's decision on interest rates, Ben Bernanke and the Fed will be on an economic balance beam focused on the credit crunch but expected to make comments acknowledging inflation. The consensus amongst traders is that the Fed will hold rates steady for this go around.
Mike Darda, Chief Economist from MKM Partners appeared on the set at the NASDAQ to discuss what to expect from the Fed.
Darda predicted that the Fed would hold rates at 2%, but put out a dovish statement. He expects stocks and treasuries to pop while seeing financials likely to rally as well.
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On Aug 4, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Finerman's Firm Is Short (IYR) (IJR) (MDY) (SPY) (IWM) (COF) (BBT) (XLF), Finerman's Firm And Finerman Own (C) Leaps, Finerman Owns (GS), Finerman's Firm Owns (MO) (MSFT) (PM) (SUN) (TSO) (VLO) (WLP) (UNH) (AET), Macke Owns (MSFT) (WMT) (COST), Macke Is Short (TM), Adami Owns (AGU) (C) (BTU) (GS) (INTC) (MSFT) (NUE), Seymour Owns (AAPL) (CSCO) (INTC) (MER) (MSFT) (TSO) (EEM) (F) (SHLD), Seygem Asset Management Owns (EEV), Joe Terranova Owns (BNI), Jon Najarian Owns (EMC) Calls, Jon Najarian Owns (CSCO) Calls