The Dow fell 500 points in the last hour of trading today. It's about time! Fed funds futures are now pricing in an 86% chance the fed will cut rates tomorrow. Why? Because traders and investors on Wall Street want a "psychological lift" to prevent the market from falling even more. Well, too bad! The current rate is only 2% - already way too low. The Fed must sit tight at least until March of next year. The fact is, the market should have taken a dive over a year ago, but the Fed and our government have been artificially...
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Please, Bernanke DO NOT Cut Rates! And Tell Greenspan to SHUT UP!
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