Another rate cut. Seriously?
Monday, October 29th, 2007This is going to be an interesting week in economic review. The Fed meets again on Wednesday, and the stock market seems to have another rate cut factored in.
I can’t believe Ben Bernanke would drop the overnight rate this soon after dropping the rate a larger than anticipated half point.
The credit problems are starting to moderate, third quarter financials are stronger than expected, the World economy is booming on the weak dollar, and the dismal housing market has yet to spill over into the rest of the economy. In short, things don’t look all that bad from my point of view. Or, more properly stated, things don’t …
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