Do deficits matter? - 2004-02-02
In 2004, the U.S. federal budget deficit will probably be the biggest in history, with more huge deficits in store for years to come. But should we care?

They also note that -- contrary to fears that an increase in government borrowing to pay for the deficits would "crowd out" private investment and drive interest rates higher -- mortgage rates, 10-year Treasury note yields and other key interest rates fell during the Reagan and first Bush presidencies.
Read the full story at CNN

Over reaction to Fed - 2004-02-02
To the untrained eye, it seems like good news: The Federal Reserve provided an upbeat assessment of the job market and left a key short-term interest rate at a historic low, saying it could afford to "be patient" with its policy.

The idea that rates could rise as early as this spring or summer sent stock prices lower and bond yields higher, to the dismay of anyone shopping for a mortgage.
Read the full story at Modesto Bee