feds watch trading, page-8

(don't ignore this imo)
WASHINGTON (MarketWatch) -- It will take years for the subprime mortgage market to recover, but other financial markets are already showing signs of healing from the paralysis of August, said St. Louis Federal Reserve President William Poole on Wednesday.
"Recent weeks show clear progress," he said.
The Fed's rate cuts have helped the healing process by restoring investor confidence, but no one can be certain whether the Fed will need to cut rates again, he said. The strength of consumer spending will be a determining factor.
Only one thing is certain: The Fed won't raise rates at its next meeting in December, he said, an unusually bold statement for a Fed policymaker to make. Poole is a voting member of the Federal Open Market Committee this year.
"Market participants must be confident that they can take positions without the risk that the Fed might raise rates," he said.