Davos Forum: Fed May Have Lost Control

Davos Forum: Fed May Have Lost Control

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....Will the Fed's move signal a determined effort by policymakers around the world to avoid economic catastrophe? Or is it a sign of panic which indicates that central bankers have lost control of events? There is no better place right now than Davos, with its extraordinary concentration of brain power, wealth and government muscle, to answer these questions. The danger of yesterday's interest rate cut, much larger than anticipated and enacted at an unscheduled meeting of the Federal Open Markets Committee, is that it will be seen as a panic decision which indicates that things are very much more serious than the still relatively benign consensus among economists on the outlook for the world economy.

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Global elite head for Davos to attend the World Economic Forum

A bit of an agenda change for the Davos meeting? Wonder what these elites are going to come up with now. Did they even know that the FED was going to cut the rates or is it news to them as well? My guess is that they knew it all along.

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