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Detroit Free Press Susan Tompor column.

Knight Ridder/Tribune Business News, June, 2004

By Susan Tompor, Detroit Free Press Knight Ridder/Tribune Business News

Jun. 25--WARY WALL STREET KEEPS CAREFUL EYES ON CENTRAL BANK: Hear anybody chat up stocks lately? Yeah, right. Nobody's talking stocks. Investors pretty much have been sitting tight, crossing their fingers and holding their breath. It's like Y2K all over again. But this time, many market watchers are keeping an eye on June 30.

Wednesday, consumers can start kissing record low interest rates good-bye. The Federal Reserve will raise short-term rates for the first time in four years. It's the first step in what could be an 18-month effort toward bringing rates back to normal.

And complicating things, the U.S. government hands over power to Iraq's interim government...

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