Quote:
Originally Posted by Flames89
Everyone knew already that the Fed was going to cut .5% next week. So this was already priced in. About 25% of investors thought that the movement was going to be .75%.
They moved quicker and sooner, but inline with their statements and market expectations - so I don't see it as "drastic". Hell, if George didn't open his untrustworthy yap last week the Fed may have been able to wait until their meeting next week.
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Well supposedly they are going to cut it another 50 basis points next week anyways.