2 > My 2 cents are not until after the holiday season and well into 2010, One busted bond sale will trigger some down. In my view things are too fragile in the credit world to start a rate hike. Like Foot said in AM about housing is to me a good read.
Absolutely not. Economy doesn't even come close to supporting it. Furthermore look at long term bond rates, they are actually coming down now. I do beleive it when the pundits say the Fed in essence follows the market when it comes to rates.