FOMC Announcement
The Fed’s cut rates 25bps, and cut the discount rate 25bps. The market wanted much more for the discount rate. As Chuck had pointed out, the indices were at major resistance points and a “sell the news” scenario was not completely unexpected, considering the recent run-up. How we close will tell us more about where we stand and later this evening we’ll have more analysis of charts, as well as the Fed’s decision.
More on this topic
(What's this?)
Auerback: Bernanke Fesses Up: America Has No ‘Insolvency’ Issue
(naked capitalism, 2/26/10)
William Black” “Anti-Regulators: The Federal Reserve’s War Against Effective Regulation”
(naked capitalism, 1/12/10)
Yellen About ZIRP
(LOLFed, 3/13/10)
