The following is an except from Dr. G's February 3, 2008 report to clients: Monetary policy is in the process of shifting toward stimulus. The latest figures suggest that the Fed may have already begun the process before its recent 1¼ point cut in rates. It often takes 6-9 months for spending to accelerate following a shift in policy. There is some evidence that the lead time can be shorter amid more dramatic policy changes, such as have recently occurred. In any event, the latest shift in policy should produce rapid increases in spending in the later half of this year, if not sooner. Read the entire report