Doug Kass Says The Fed Will Ease Momentarily

January 9, 2008 11:14 AM EST

Earlier today, Doug Kass of RealMoney and Seabreeze Partners said the fed will ease momentarily.
Here's an excerpt of what Kass said on RealMoney:

"I have friends who are very close to members of the Fed, and they say that the Fed will ease momentarily.

This morning, several of those friends gave me an indication of heightened concerns regarding the domestic economy -- far more than what has been expressed by the President, the Secretary of the Treasury, and the Federal Reserve in various platforms over the last week.

And they say that the Fed will ease momentarily.

Enough said."

The fed easing would definitely be welcomed by the struggling financials, including: Merrill Lynch (NYSE: MER), (Citi: C), Bear Stearns (NYSE: BSC) and Countrywide (NYSE: CFC), Lehman Brothers (NYSE: LEH) and many others.

Earnings reports from the likes of Merrill Lynch, Citi and other financials are expected soon, which should shed some more light on additional Q4 writedowns related to CDO & subprime exposure.
Merrill Lynch took a $7.9 billion write down last quarter and Citi is expected to write down more than $10 billion.

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