Washington – With turbulence hitting financial markets as a global credit crisis claims heavy weight victims, and given the meltdown in markets, a fed rate cut was predicted by many wall street analysts.
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However the Federal Reserve today after its meeting decide not to cut interest and leaving the fund rate unchanged at 2.0%
The Fed’s action came as insurance giant American International Group struggled with mounting pressures after major credit rating agencies issued downgrades for the company.
This looks like a prediction,that more bad news is expected,so they prefer to keep the rate cuts,for the next big debacle.
There are not to many rate cuts,they can still do,when the rate is 2%,so you have to preserve the medicine for real and big emergencies.
They should just lower the rate another 2% and be over with it, this slow death is to painful
UNFORTUNATELY, the big thinkers and planners Greenspan and Bernanke have hurt this economy deeply by never figuring out what was coming.
The first is famous for twisted sentences and confusing phrases and the second one froze the interst rate fourteen times in a row and decided too late that he had been wrong.