Wednesday, January 23, 2008

Fed Rate Cut

So we just got an intra-meeting 75 basis point cut. I guess the Fed's job is to prop up the stock market now. I'm not a huge economics expert, nor do I really care one way or the other what the Fed does with rates at the moment. However, it looks pretty obvious that the move was done due to declines in global stock markets and a desire to prevent such declines in the US.

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