Fed lowers interest rate, "prints" another $41 billion.
The attack on an already weak dollar continues.
"Stocks plunge amid data, surging oil. Big banks Citigroup and Bank of America are downgraded."
"Fed Injects $41 Billion Into US Financial System to Help Ease Credit Problems."
And then all the signals are grim.
"U.S. foreclosures jump by 30 percent."
"Consumers cut spending."
"Factories falter."
Oil touches new record above $96 per barrel."</a? And the stock market, except for being valued in much cheaper dollars,isn't looking all that grim. Not great in todays "action", but not bad overall. Go figure.
Arf