US cuts interest rates again - 3% now

[DimPrawn]

http://news.bbc.co.uk/1/hi/business/7218055.stm

The Federal Reserve has cut interest rates for the second time in nine days as it tries to keep the US economy from entering a recession.
The central bank lowered rates to 3% from 3.5% after a two-day meeting.


Smacks of desperation to me.

Doomed.

[oracleslave]

http://news.bbc.co.uk/1/hi/business/7218055.stm

The Federal Reserve has cut interest rates for the second time in nine days as it tries to keep the US economy from entering a recession.
The central bank lowered rates to 3% from 3.5% after a two-day meeting.


Smacks of desperation to me.

Doomed.

Panic is not what's required but what seems to be happening

[milanbenes]

no folks, this shows the flexibility of the US system and how fast and how far they can react to changing economic circumstances, MB's tip, expect the ECB to cut rates by 0.25% in about 2 years time.

Milan.

[bobhope]

no folks, this shows the flexibility of the US system and how fast and how far they can react to changing economic circumstances, MB's tip, expect the ECB to cut rates by 0.25% in about 2 years time.

Milan.

Or it shows that Bernanke doesn't know what he's doing.

An economy isn't a speedboat, it's more like an oil tanker. Slow, steady changes are required.

[milanbenes]

Bob,

it's not fair to blame Ben, he's now got to solve the fruits of his predecessor's labour

time will tell eh.

Milan.

[DS23]

unless you see rocks dead ahead in which case leap on tiller! you know it's going to create havoc for the passengers and cargo but it's better than doing nothing.

[DS23]

hope he pushed the tiller towards land.

[BlasterBates]

Who cares as long as he holds our stock portfolios up.

[rootsnall]

Who cares as long as he holds our stock portfolios up.

The stockmarket is holding up well so far considering the level of potential doom out there. My Plan B is to buy big in high yield stuff if it collapses and live off the dividends while sunning myself in a tax free sunny location. However my new Wilmslow effected brain might not have to bottle to pounce !

Another bond insurer in the tulip last night, if they start going down then it really is bunker and beans time. I think they are in genuine heap big trouble hence the panic measures.

[DS23]

Who cares as long as he holds our stock portfolios up.

one hand low on the tiller and one hand high with the portfolios. easy.