On Monday the Fed dropped interest rates by a full 0.75% out of the blue. Unprovoked, unannounced, and unexpected, both in scale and timing. Sure, The Street had predicted a rate cut, but no one was predicting three-quarter basis points, and few were predicting an unscheduled cut.

There is something strange about this move.

Big Ben Bernanke has been fairly slow to react to economic data, and has at most taken a half basis-point chunk out of rates at any one time. So why the big bite all of a sudden?

I suspect that there is more to this interest rate …

It’s really no surprise that the Fed dropped rates by another quarter point yesterday. In fact, The Street figured it was a 90% sure thing that it would happen.

So now I can expect my Emigrant Direct savings account rate to drop accordingly, just as companies like Proctor and Gamble are issuing statements that they’re worried about consumer spending in the next few months (and when they indicate publicly they’re worried about it, don’t count on financials being all that great next quarter).

With the second rate cut totaling 0.75% in six weeks, it’s clear the Fed is trying …

This 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 …