fed cuts 0.25% bloomberg

fed cuts 0.25% bloomberg

 

I bought some on the pull back...kicking myself right now..made about 7 points, could have made. 18 or so. Oh well. Green is green I suppose

 

october 2002 bull market is NOT dead

huuuge rally monday

 

Link?

 

Bloomberg TV in Kong Kong were interviewing a guy from Miami and the interviewer read it off the screen. Clarification it is discount rate not fed funds

 

Its true PANIC PANIC

http://www.federalreserve.gov/newsevents/press/monetary/20080316a.htm

Press Release
Release Date: March 16, 2008

For immediate release

The Federal Reserve on Sunday announced two initiatives designed to bolster market liquidity and promote orderly market functioning. Liquid, well-functioning markets are essential for the promotion of economic growth.

First, the Federal Reserve Board voted unanimously to authorize the Federal Reserve Bank of New York to create a lending facility to improve the ability of primary dealers to provide financing to participants in securitization markets. This facility will be available for business on Monday, March 17. It will be in place for at least six months and may be extended as conditions warrant. Credit extended to primary dealers under this facility may be collateralized by a broad range of investment-grade debt securities. The interest rate charged on such credit will be the same as the primary credit rate, or discount rate, at the Federal Reserve Bank of New York.

Second, the Federal Reserve Board unanimously approved a request by the Federal Reserve Bank of New York to decrease the primary credit rate from 3-1/2 percent to 3-1/4 percent, effective immediately. This step lowers the spread of the primary credit rate over the Federal Open Market Committee’s target federal funds rate to 1/4 percentage point. The Board also approved an increase in the maximum maturity of primary credit loans to 90 days from 30 days.

The Board also approved the financing arrangement announced by JPMorgan Chase & Co. and The Bear Stearns Companies Inc.

 

Its 0.25 of the discount rate.....

 

What the fuck is going on here. It's a Sunday. There is more news floating around than any other day in history.

 

Link?

 

Fed is going for shock value. Is there a sense that "Fed knows things we don't and it's worse then we understand"? Fed desperation and panic?