Federal Reserve makes emergency rate cut

MSNBC ^ | 01.22.08

[Perdogg]

Federal Reserve makes emergency rate cut.

[Perdogg]

75-bases points.

[petercooper]

Anti-capitalist FReepers deeply saddened.

[rawhide]

I guess they are trying to stop the stock market from going into the tank today?

[Jagman]

Katie bar the door! Here we go...

[dinoparty]

Won’t this signal of panic cause more harm than good at this time?

[SIDENET]

Federal Reserve makes emergency rate cut

What was the previous emergency rate?

[seacapn]

What effect will this have on the value of the dollar?

[Perdogg]

The dollar will go down since it is cheaper.

[GraniteStateConservative]

Soon we’ll be using dollar bills as toilet paper.

[doc30]

Won’t this signal of panic cause more harm than good at this time?

Probably. It sure isn't a confidence builder in the economy. It's more like, "oh my God! We're Doomed!"

[The_Victor]

Anti-capitalist FReepers deeply saddened.

What's sad is that there is such a creature.

[RDTF]

wow

[RSmithOpt]

Not surprised at all. Banks and the markets need some reassurance until the area of price support is actually reached in the stock market(s) -— the sell offs due to margin calls have stopped. Most likely the big bucks (single fund managers with large calls, that is. Things will level off by the end of next month as a definite trend can be seen in the overall direction.

[mad_as_he$$]

Nothing good at this point. It is too little to late. They missed the right time to do it last summer. The real effect will take weeks to act and it will cause some lessening of emotion in the market but the pros run on logic.

[RDTF]

my nephew is buying a house and had locked in on a rate - hopefully they will now give him the lower one

[doc30]

Loering interest rates here makes investing oin countries with higher rates more attractive. Hence people will not be buying dollars and the dollar will drop.

[4everontheRight]

Good time to refi my mortgage??

[petercooper]

Love this line from the NY Sun (supposedly conservative)---"Stock indices around the world plunged yesterday on pessimism over America's ability to claw its way out of a recession, with markets from Berlin to Bombay posting large losses."

We're in a recession? Q2 was 4% growth, Q3 was almost 5% and Q4 will probaly be about 1.5%. What recession?

[RSmithOpt]

Got a wheelbarrow to haul your Georges around for a loaf of bread? Most likely another addition of 1.5% kickup in inflation for the year versus foreign currencies.