Tuesday, January 15, 2008 11:53:40 AM
on Jan 30 may likely not be enough to sustain a turnaround in the economy at this point (at least not anything anywhere near the short-term) and also likely would not be met favorably for long in the markets. The markets have been reacting correctly to the Fed for awhile and I would expect that to continue. And it's unlikely the Fed is "decisive acting" enough to go for a 75 bp cut in January.
For the big change in cuts (and a change in outlook and character of this Fed) to occur, we will have to wait for more economic problems to develop later, for them to fall further behind, and ultimately for some later emergency actions by them.
An emergency meeting at some future time in the spring would be a good signal of a turn of sentiment.
More pain for now, however.
GL.
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