waitingtill08_IHB
New member
The Fed just lowered both the Fed Funds Rate and the Discount rate by .50%
Fed lowers rates
- Thread starter waitingtill08_IHB
- Start date
NEW -> Contingent Buyer Assistance Program
IrvineCommuter_IHB
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Dow up 200 Nasdaq up 40
reason_IHB
New member
Look at the freaking market reaction!
IrvineCommuter_IHB
New member
The evil side of me wanted to see what would happen if the Fed did not cut the rate
mino2126_IHB
New member
Oil to $90 now?
IrvineCommuter_IHB
New member
There was talk that it would go up to $100 earlier today
IrvineCommuter_IHB
New member
I am happy, my student loan rates will go down.
reason_IHB
New member
<p>blue,</p>
<p>Hahaha.</p>
<p>Hahaha.</p>
IrvineCommuter_IHB
New member
Just in case you wanted to hear from the Fed itself:
<em></em>
<p class="textBodyBlack">The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 4-3/4 percent.</p>
<p class="textBodyBlack">Economic growth was moderate during the first half of the year, but the tightening of credit conditions has the potential to intensify the housing correction and to restrain economic growth more generally. Today’s action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and to promote moderate growth over time. </p>
<p class="textBodyBlack">Readings on core inflation have improved modestly this year. However, the Committee judges that some inflation risks remain, and it will continue to monitor inflation developments carefully. </p>
<p class="textBodyBlack">Developments in financial markets since the Committee’s last regular meeting have increased the uncertainty surrounding the economic outlook. The Committee will continue to assess the effects of these and other developments on economic prospects and will act as needed to foster price stability and sustainable economic growth.</p>
<p class="textBodyBlack">Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Charles L. Evans; Thomas M. Hoenig; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; William Poole; Eric Rosengren; and Kevin M. Warsh. </p>
In a related action, the Board of Governors unanimously approved a 50-basis-point decrease in the discount rate to 5-1/4 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Cleveland, St. Louis, Minneapolis, Kansas City, and San Francisco.
<a href="http://www.cnbc.com/id/20839150">www.cnbc.com/id/20839150</a>
<em></em>
<p class="textBodyBlack">The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 4-3/4 percent.</p>
<p class="textBodyBlack">Economic growth was moderate during the first half of the year, but the tightening of credit conditions has the potential to intensify the housing correction and to restrain economic growth more generally. Today’s action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and to promote moderate growth over time. </p>
<p class="textBodyBlack">Readings on core inflation have improved modestly this year. However, the Committee judges that some inflation risks remain, and it will continue to monitor inflation developments carefully. </p>
<p class="textBodyBlack">Developments in financial markets since the Committee’s last regular meeting have increased the uncertainty surrounding the economic outlook. The Committee will continue to assess the effects of these and other developments on economic prospects and will act as needed to foster price stability and sustainable economic growth.</p>
<p class="textBodyBlack">Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Charles L. Evans; Thomas M. Hoenig; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; William Poole; Eric Rosengren; and Kevin M. Warsh. </p>
In a related action, the Board of Governors unanimously approved a 50-basis-point decrease in the discount rate to 5-1/4 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Cleveland, St. Louis, Minneapolis, Kansas City, and San Francisco.
<a href="http://www.cnbc.com/id/20839150">www.cnbc.com/id/20839150</a>
effenheimer_IHB
New member
<p><img alt="" src="http://www.smugmug.com/photos/88453779-L.jpg" /></p>
<p>Effenhawk disagrees.</p>
<p>Effenhawk disagrees.</p>
Laing_Lies_IHB
New member
So ... can you explain to someone who only treats teeth what this'll mean for jumbo loans? Thanks.
oc-conservative_IHB
New member
"Oil to $90 now? "
The stock market has had a positive correlation with oil prices in recent years, primarily because the oil sector is now a large part of the market.
Oil to $90 or $100? Good for the mutual fund holder, bad for Hum-vee owners.
The stock market has had a positive correlation with oil prices in recent years, primarily because the oil sector is now a large part of the market.
Oil to $90 or $100? Good for the mutual fund holder, bad for Hum-vee owners.
lendingmaestro_IHB
New member
<p>SHORT THE DOW ASAP!!!!!!!!!!!</p>
<p>This is your typical market mania taking over. Soon the markets will realize that this is an indicator of how uncertain our economic future really is. In addition to this, the horrid housing numbers come out next week.</p>
<p>It is my sincere belief that the DOW finishes below 13k for the month of September.</p>
<p>This is your typical market mania taking over. Soon the markets will realize that this is an indicator of how uncertain our economic future really is. In addition to this, the horrid housing numbers come out next week.</p>
<p>It is my sincere belief that the DOW finishes below 13k for the month of September.</p>
jwbrown77_IHB
New member
Unbelievable.
Is there no one willing to stand up for what's right in this country anymore?
We might as well elect Cramer to be the next chairman.
Is there no one willing to stand up for what's right in this country anymore?
We might as well elect Cramer to be the next chairman.
IrvineCommuter_IHB
New member
<em> We might as well elect Cramer to be the next chairman.
</em>
I do not know what the country is going to be like but can you imagine the Fed statements and interviews. Hilarious!
</em>
I do not know what the country is going to be like but can you imagine the Fed statements and interviews. Hilarious!
jwbrown77_IHB
New member
From the CR comments:
<em>Consider this: In 2000, when Bush took office, gold was $273 per ounce, oil was $22 per barrel and the euro was worth $.87 per dollar. Currently, gold is over $700 per ounce, oil is over $80 per barrel, and the euro is nearly $1.40 per dollar. If Bernanke cuts rates, we’re likely to see oil at $125 per barrel by next spring.</em>
<em>Consider this: In 2000, when Bush took office, gold was $273 per ounce, oil was $22 per barrel and the euro was worth $.87 per dollar. Currently, gold is over $700 per ounce, oil is over $80 per barrel, and the euro is nearly $1.40 per dollar. If Bernanke cuts rates, we’re likely to see oil at $125 per barrel by next spring.</em>
IrvineCommuter_IHB
New member
You better get a bicycle pretty soon.