Dow has largest one day gain in 5 years
Posted By RichC on September 18, 2007
The Fed cut interests rates today by 1/2 basis point; many assumed they would only react by moving 1/4 including former Fed Chairman Alan Greenspan. One can only assume that the Fed sees inflation under control or are hoping to fend off a recession brought on by a slump in the housing market. The Dow moved up immediately after the afternoon announcement and skyrocketed 335.97 points.
Comments