PrintOctober 8, 2008
Fed, EU cuts interest rates by 1/2 point-it is about time!
Markets did an incredible about face -- futures substanitially up, of course. Who knows how long this will last, but it was the one step that will help the most.
Maybe this will help McCain a bit.
I think the market expected this about 30 minutes before it occurred because the futures started strengthening before the decision was made.
The rest are gimmicks to a great extent. They should have done this months ago.
Update:
Markets opened and went down. This is not enough to stem the tide, obviously.
