Fed cuts rates. Big day up for stocks and gold.
Posted in Daily Comment, Gold, QQQQ on Sep 18th, 2007
The Fed cut both the Fed Funds rate by 50 basis points, as well as the Discount Rate, also by 50 basis points. It was expected that they would possibly cut both by a quarter, or just the Fed Funds by 50, but most pundits didn’t think they would do both. When they did it [...]