The U.S. Federal Reserve announced Tuesday an emergency interest rate cut, lowering the target range for federal funds by 50 basis points to a range of 1-1.25 percent. This seems stupid to me, now they have no more moves to make and the market sill dropped 900 points. China's economy is experiencing a severe economic recession which, in a best case scenario, will last at least two quarters. I'm already feeling the disruption in the supply chain, I lost my distributor for kitchen cabinets for my house building company. I am very optimistic about the economy, as long as the republicans hold the white house, but not The Dow 30,000 optimistic.
I agree it was a stupid move. The have a pistol with 6 bullets in it. They wasted 3 of them shooting them in the air when the economy should not have had any stimulus. Today they shot a couple more and just made things worse. Basically said Houston we have a problem and threw gas on the fire. Bad move.
