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Non-Tech : Raptor's Den
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To: johnnaper who wrote (5312)11/6/2002 2:31:36 PM
From: velociraptor_  Read Replies (1) of 10157
 
1/2 point a year ago would have shot the DOW up over 200 points by now.

The 1/2 point cut tells me that the FED sees something very wrong dead ahead. All they had left was 7 possible rate cuts left before they get to zero, and they used 2 of them now. That's a panic in my book. The cuts have not done anything up to this point and they won't going forward either. Cutting rates does not solve the debt problem which is the root of the issue. No action would have been better to say at things are fine right now. However, a 50bp cut...they see something we have not yet.
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