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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: SARMAN who wrote (239593)	8/17/2007 9:13:23 AM
From: michael97123	Read Replies (1) \| Respond to of 281500

He will take action as necessary. There is room for another 1/2 point in the discount rate and the target rate can be lowered if that doesnt work. 1/2 point cut today is not the reason for the uptick, its the feds engagement. Bigger problem for euro banks. Euro banking system often state owned and non-dynamic and less able to be nimble on their feet when credit problems arise. I will be very happy if market closes year at or around 13,000-13,500. That would mean we dodged a bullet.