Oh. The unpredictability of the markets
Back in 2007-11-09 at 11:06:43 am I wrote
My guess is that the Fed will cut by .5 points, both rates.
The news today is
The Federal Reserve, hoping to stave off a recession, cut interest rates by a quarter point Tuesday, bringing the federal funds rate to 4.25 percent. The move matches analyst expectations and is meant to limit fallout from the ongoing housing slump and credit crunch. The Fed also cut the discount point rate by 0.25 percent.
So my guess one month ago was off. It was both rates but only 0.25. Well, you can’t win them all.
Expect the Fed to continue acting fairly predictably (like a junkie going for the next fix) until the economy overdoses.
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