OTCQX:SREMF - Post by User
Post by
MAGICLENSon Apr 18, 2001 2:41pm
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Post# 3624506
Fed says it's OK to buy stocks!
Fed says it's OK to buy stocks!
The Fed provided the intra-meeting rate cut that everybody thought would never happen! The Federal Funds rate was lowered by 50 basis points to 4.5%.
The Fed noted that they were concerned about the decline in corporate profits and the decline in capital spending. This was like adding rocket fuel to an already powerful rally that was taking place, and the market is rocking and rolling today. Oh...the pain the shorts are feeling!