The Federal Reserve is committed to keeping rates low. Why fight them?
With 

• John Osbon, Head of Osbon Capital;

• Gerard Klingman, President of Klingman & Associates;

• Bill Singer, Shareholder in the Securities Practice Group of the law firm Stark & Stark and Publisher of http://BrokeAndBroker.com and http://RRBDLaw.com

  SINGER: By way of follow-up, I think Gerry makes a superb observation here and truly encapsulates a major change in market psychology. "Panic" in many forms seems to have receded from the markets. Fact is, I won't even say "receding" because I think the stench of fear is truly gone--be that dangerous overconfidence or not.

  We are also seeing the manifestation of less panic in the fact that many investors and traders have a sense that some inflation may be returning and that "if" the inflation over-accelerates it could deter further global recovery but (and this disjunctive makes all the difference for the current dialog) many veteran investors/traders are not worried by the recent inflationary blips and take some measure of relief from the development as corroborative of the long-sought awakening from the last-year-plus coma. For nearly a year, market participants have insisted upon an aisle seat next to the emergency door with their life jacket on and the safety belt buckled. You sort of sense a lot of folks are now lowering their seat trays and trying to enjoy the flight.

To read the entire Panel interview, visit: http://www.forbes.com/2009/06/15/interest-rates-fed-intelligent-investing-federal-reserve.html