8 replies to this topic

[tommyt]

fed cuts discount rate by 50 bp

[redfoliage2]

fed cuts discount rate by 50 bp

Is this just a rumor? Could you provide a link or source? Thanks.

[chichi2]

Fed Cuts Discount Rate to 5.75%, Cites `Downside' Risks By Brendan Murray Aug. 17 (Bloomberg) -- The Federal Reserve, in an unscheduled meeting, cut the discount rate to 5.75 percent from 6.25 percent, noting market conditions have deteriorated since it last met Aug. 7. ``Financial market conditions have deteriorated, and tighter credit conditions and increased uncertainty have the potential to restrain economic growth going forward, '' the central bank's Federal Open Market Committee said in a statement. ``The downside risks have increased appreciably.'' The FOMC left the overnight federal funds target rate unchanged at 5.25 percent.

[tommyt]

all over CNBC..leisman

[ogm]

fed cuts discount rate by 50 bp

Is this just a rumor? Could you provide a link or source? Thanks.

Its true, watch CNBC... Good stuff.

Don't fight the Fed

Thats why banks were green yesterday.. the bastages knew

[bullshort]

I think it's safe to say that that ran a few stops and cleaned out the shorts. Talk about a fast moving market, in less than one minute the ES futures spiked up over 50 points. I'm sure some stops got filled way way higher than expected.

[VolPivots]

Someone just got bailed out.....

[OEXCHAOS]

tommy, Thanks. You gave a heads up before any online source did. We don't watch CNBC when we're publishing. This site is useful. I come HERE first to find out what the news is. Mark

[tommyt]

sure thing Mark...THANK YOU for doing all of this!! I was long financials comin in...drinks on me for anyone near Lafayette, CA