Today this morning the Federal Reserve made an emergency 50 basis points interest rate cut. The stock market at first went up on this news, but then went in the red by noon. However, the price of gold soared. It seems odd at first glance for them to do this, because the DOW went up over 1,100 points yesterday so it doesn’t seem like it needed this rate. Is there something else though that the Federal Reserve is reacting to? I discuss this situation in this video.
Mike Swanson is the editor of WallStreetWindow.com. For more about this website hit the about us page in the top navbar. To get on our free stock trading update list scroll on down and put your email into the subscribe box.
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