Fed Speak on Interest Rates; Frankenfood; Bubbles and Commodities

MWF (Wednesday) Briefing:

U.S. stocks ended lower yesterday lower in anticipation of the Fed announcement later this morning. Congress is going to town on introducing new housing legislation.  Though it's understood the importance of keeping a steady economy, it doesn't make sense that bad decisions and excessive greed should be rewarded with a bailout.  Wall Street goes mainstreet.  As prices of agriculture commodities increase, European purists are looking to buying cheaper genetically modified food. 

• GMO Foods or Frankenfood are gaining wider acceptance in Europe as prices increase. istockanalyst

• A Monet sold for $80.4 million. NYT
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• Congress is set to pass sweeping housing legislation to rescue hundreds of thousands of homeowners in danger of foreclosure.  This is the biggest overhaul of mortgage financing since the New Deal. NYT