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22 Jan 2008 03:33 pm
Fed Cut Econ Blogger Reax
Matt Cooper and Larry Kudlow both like the three quarters of a point cut. James Pethokoukis says it's good for Bernanke's image. Felix Salmon is more skeptical:
Now the Fed is charged with keeping employment high and inflation low; it's not charged with protecting the capital of investors in the stock market. So this action smells a bit like panic to me, and it might also have prevented the kind of stomach-lurching selling which could conceivably have marked a market bottom. I have to say I don't like it.
My worries here.
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