Does the Fed make an economy?
Thursday, November 1st, 2007It’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 …





