FED Cuts Rate Today

[BadThad]

Hopefully this will help the market:

WASHINGTON — The U.S. Federal Reserve Friday said it cut the primary discount rate by a half point as the downside risks to growth have increased "appreciably", a surprise move aimed at calming jittery global markets.

"Financial market conditions have deteriorated, and tighter credit conditions and increased uncertainty have the potential to restrain economic growth going forward," the Fed's Federal Open Markets Committee said in a unanimous statement.

The Fed cut its primary discount rate, which governs direct loans from the central bank to commercial banks, to 5.75 percent from 6.25 to "narrow the spread between the primary credit rate and the Federal Open Market Committee's target federal funds rate to 50 basis points."

[Aufan 1983]

Originally Posted by BadThad

Hopefully this will help the market:

Thats great news to see this morning!!!!

[Ciao]

BadThad
Good found…. I was looking around for news because suddenly Milan began to show some green
Could be a green day…. hopefully ;)

[Grizzums]

I wonder if this is a precursor to a fed funds rate cut in sept....

Nevertheless, should definitely be a catalyst for a nice bounce today especially after testerdays eod rally led by the financials.

I still think another leg down over the next few weeks is certainly possible...

We'll see...

[BadThad]

It's working! EVERYTHING in my port today is green this morning...and picking up the pace FAST.

USB up over $2 already! :D

[rtace]

some good vids on cnbc.com
Cramer predicting crazy things as usual, "largest point gain in history"
If hes close to right that will be sweet

also that we saved our self from the crash

[BadThad]

Originally Posted by rtace

some good vids on cnbc.com
Cramer predicting crazy things as usual, "largest point gain in history"
If hes close to right that will be sweet

also that we saved our self from the crash

Hope he's right because I'm sitting on what I think are AWESOME prices for the stocks I own. My whole port has been realigned with more shares at lower prices....a lot of work on my part. LOL If the market even just returns to the levels it was at, I'll be looking at huge, 5 figure gains in my portfolio. If that happens, I'm going out and buying the finest cigar I can get my hands on! LMAO :D

[Evil-Eye]

Originally Posted by BadThad

I'll be looking at huge, 5 figure gains in my portfolio. :D

But where do you place the decimal point? :D

[Weirdharold]

Originally Posted by Evil-Eye

But where do you place the decimal point? :D

That was just EVIL!

[BadThad]

Originally Posted by Evil-Eye

But where do you place the decimal point? :D

You trying to ruin my cigar? LOL :D