Wednesday, September 19, 2007
Fed's stock rises
Bernanke and the Fed took KPC's advice to heart and came up big in their own building so to speak with a big bold move in favor of economic growth. The markets went nuts, foreign markets went nuts during the night and domestic stock futures point to a positive opening today. Even though I advocated for a big move in the opposite direction, I have to give the Fed a lot of credit for being clear, taking a stand, and not tossing out a pusillanimous .25 cut as a bureaucratic CYA move. Kudos Ben!