Feds drops the rates by 1 point?????
Bernanke does't strike me as the type to drop rates just for the market. His reaction to the next big economic report, and of course, the Fed meeting on the 30th, will be telling.
Perhaps the markets are sending him a warning shot.
Not far off. They dropped rates .75 this morning but the futures still look grim. Maybe down by as much as 500 points.