The USD is getting pounded against all major currencies, the 10 and 30 year Treasury yields have bumped up significantly, causing mortgage rates to RISE. And oil is now almost $84/barrel! Heli Ben made a BIG MISTAKE. The market has spoken, the equity traders will finally wake up, the novacaine effect from the 50 bp shocker is wearing off and once they realize that mortgage rates are actually higher AFTER the 50 bp cut, people will wake up to the realities. It is not gonna be a pretty Q4. Current economic situation is the perfect model for stagflation.