Sharp takes on Fed's big cutsAaron Pressman
Okay, as promised, here’s some annotated linkage from around the web analyzing yesterday’s surprisingly large rate cuts by the Federal Reserve’s Open Market Committee. For context, the stock market appeared pretty bowled over by Chairman Ben Bernanke’s one-half percentage point cuts to the discount rate and fed funds rate. The S&P 500 ended with a gain of almost 3% after the cuts were announced. Bond investors took things more in stride with the yield on the 10-year Treasury note barely moving. My colleague, Peter Coy, offers his take on our site today.
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