Friday, Aug 17, 2007
Emergency cut in the Fed's discount rates
The Times: Fed cuts the discount rate by 0.5% to 5.75%
"The US Federal reserve today cut the rate at which banks lend to each after it said the credit crunch posed a threat to growth"
What's that noise I hear? Is it sirens and klaxons and "ABANDON SHIP!"?
Posted by jeremiah @ 01:37 PM (185 views) Add Comment
2 Comments
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1. Whiteknight said...
Now.
What we will see is the last myth exposed; the power of the Federal Reserve over a broken banking system. 99% of the Feds real power is Psy Ops. You might say this is all important - but once it folds under a stronger Psy Op: reality then it will go bang with a sound you will hear from Sydney to San Francisco (..east to west)
Watch the FEDs suprise as the market starts to sell into them. Remember the contraint; the bold assumption that the US Dollar will not come under massive pressure as its value is diluted.
2. Alan said...
Prediction: BoE to cut IR next time round.
Lots of fudged excuses will be offered at the time. This will put off the HP downward correction for a couple of months.