Many market participants were looking for 100 basis point cut, which I think the Fed should have done, moral hazards aside. But I don’t think that Bernanke could have gotten enough votes from the other memebers, so the market will have to settle for 75 bps.Here are the headlines from the FOMC announcement:FOMC lowers Fed Funds rate by 75 bps to 2.25%Fed cuts the discount rate 75 bps to 2.50%; move follows the emergency 25 bps cut over the weekendFed says will act in timely manner to promote [...]
Read More...
[Source: The Money Blogs]
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment