Rate cuts

NYTimes: “The Federal Reserve, the European Central Bank and other central banks from Britain and Switzerland to Canada and China announced rate reductions within seconds of each other.” Markets still down.

Chicken

Sitting on the plane today watching CNBC, I couldn’t help but think the financial markets are engaging in a game of chicken with the Fed. Is it possible that things could finally shake out and start to turn around if the market knew that the rules have stopped shifting?