Further Interest Rate Cuts Unlikely: Fed Officials say

Further Interest Rate Cuts Unlikely: Fed Officials say

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WASHINGTON — Sounding a gong couldn't have made it clearer. Federal Reserve officials are putting out the word that further interest rate cuts are unlikely.

Fed Governor Kevin Warsh ditched the central bank's cryptic word tangles and actually waxed poetic. "Even if the economy were to weaken somewhat further, we should be inclined to resist expected, reflexive calls to trot out the hammer again," Warsh said, referring to the Fed's key interest rate.

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The stock market is not going to like that one bit.

Tuesday should be... interesting to say the least.

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Originally posted by grover


The stock market is not going to like that one bit.

Tuesday should be... interesting to say the least.

www.huffingtonpost.com
(visit the link for the full news article)

Yes, Tuesday could be ugly. What is sad though is that it is common sense. Most of the people who will be panicking on Tuesday based off of this news, probably would have said that they didn't expect the fed to cut the rate any lower. Yet, when it is actually a reality, they will lose their mind.

I have never considered stocks a good deal... its too much like betting, and I am not a gambler.

reply to post by grover


Are you saving for retirement? How can you avoid stocks in a 401k? I mean, you could put it all into bonds, but the yields are terrible.

I am on social security disability and a 30% VA disability... I make too little to save... my idea of a nest egg is chasing the wino's out of this nice little underpass near me and keeping it clean... just in case.

Sadly that's a little to close to the truth for words.

reply to post by grover


I apologize if that was too personal. For what it is worth, at least Social Security is still available for you. It won't be around forever and I just can't imagine what is going to happen when it runs out.

No it wasn't too personal.

I actually live quite well. I learned a long time ago that just because I am poor doesn't mean I have to live poorly.

Also sometime in my mid-40's I realized that I had everything I needed... that's not to say that there aren't things I want, but that's not the same.

What gets me is hearing people who make so much more than I do crying poverty... poverty has less to do with money than it does with attitude... a soul can live well on very little if it comes to that but I pity those who have everything and its still not enough.