Fed's stern

"cant wait for normal mrkts to raise rates"
sorry it's off my news ticker and I can't link it.

Gary Stern, president of the Federal Reserve Bank of Minneapolis, says the Fed shouldn't wait for financial and housing markets to stabilize before raising rates, Bloomberg reports. "We can't wait until we clearly observe the financial markets at normal, the economy growing robustly, and so on and so forth, before we reverse course," Stern, a voter on the Fed's Open Markets Committee, told Bloomberg in an interview. "Headline inflation is clearly too high." Stern is widely viewed as hawkish on inflation.

The fed is Jawboning to get oil down....
will that get some fear in that market?

Libor overnight.. PRE Weekend is down .01... that says that bankers are confident loaning money to each other in the short term... Historicly that rate goes up before the weekend out of fear of a credit crunch.