The Bellinghman (bellinghman) wrote,
The Bellinghman
bellinghman

Good grief

The Fed has apparently cut US interest rates by 0.75% (from 4.25 to 3.50), the biggest cut in a quarter of a century.

Of course, the first effect of that should be the dollar dropping back again against Sterling.

A second effect should be that US mortgages should be a little easier to repay, and the sub prime bubble burst may be a bit less explosive.
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