Ahead of Wall Street’s opening today, the Fed reduced interest rates 0.75% to 3.5%. The rate reduction came ahead of it’s next scheduled meeting on January 28.
This is a large reduction which might help settle the markets a bit. Early reports (based on futures) this morning had the market dropping 500 points. Only time will tell if investors take this as good or bad news.
What do you think? Is this what the markets and the economy need?
