And traders concluded that the Fed was less likely to continue its policy of tight money beyond perhaps one more increase in short-term rates.
He said the decision would be studied by other states "just to see what people do with tight money."
How can you justify using very tight money in a public situation for such small pockets of people?
The whiff of tighter money pushed currency markets into turmoil last week.
Today's tight money is in dramatic contrast to the atmosphere during most of the 1980's, when lenders often pursued developers.
In the same speech he used a striking illustration to explain what tight money was all about.
Japan's tight money means that the yield on capital in Japan is close to zero, and the private sector can't invest if there's no return.
The combination of tight money and high debt is causing more than token distress.
But higher gas prices and tighter money may get in the way for both bands and fans.
With money so tight and nothing is heard from local communities the facility could be lost by stealth.
