Federal Reserve Cuts Rates Yet Again by .75 Percent
The stock market is still going down, the dollar is still going down. To everyones relief so are interest rates with another 75 point rate cut by the Fed. According to AP news, this is the biggest reduction since 1990’s. But even with this cut, the market headed down over 400 points. The US stock market is always 6 months ahead of the curve, which means that this cut will not help for another 6 months and even then it is still not enough.
Even if the fed cuts again, we are still headed for difficult times for the next 6- 12 months. We still need to see a stabalization in the financial and housing markets before everyone breaths a sigh of relief. Hunker down because this is going to be a bumby ride. For now this cut will not help rates or your mortgage difficulty.
Photo: AP Photo/Dennis Cook.
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September 7th, 2010 at 3:56 am