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 March 19, 2008

Interest rates lowered by 0.75%
Wall Street had a tremendous day as a result of the Federal Reserve lowering interest rates by three-quarters of a percentage point. The Dow Jones sported its best day in over five years.
It has now been 6 months since the Federal Reserve began cutting rates. Although some were expecting a more significant cut, of a full point, they were still quite satisfied with the results. The fed funds rate is the lowest it has been since 2004.

The Federal Reserve has made it clear that they are still open to future cuts. Due to concerns over inflation and a continuing trend of a weakening economy.

"The result of the Wall Street gains today is something I take with a grain of salt", says investor Anthony Priest. "The market has quite commonly had great moments of recovery, even greater than today, but has regularly fallen again." At this time, no one is sure when the market will consistently recover. As of now, it is too unstable to predict.

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