The Rate Cut and YouBy
Another rate cut is upon us. As had been expected, Fed Chief Ben Bernanke cut the federal funds rate for the second time in two months, to 4.5% now from 4.75%. One can debate whether this meddling in the market is a good thing. Cutting rates to 1% a few years ago was clearly a bad thing. It resulted in a period of massive asset inflation and speculation. Now, it can be argued, the Fed is trying to bail the country out of the mess it made.
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