Stocks Jump Following Interest Rate Cut

Anonymous · ‎01-30-2008

http://ap.google.com/article/ALeqM5gHs5OM3gFG_DytQQZFbWfgPT08MAD8UGDUC00

NEW YORK (AP) — Wall Street surged higher Wednesday after the Federal Reserve, confirming that there is increasing stress on the economy, cut interest rates half a percentage point and indicated that more rate reductions are possible. The Dow Jones industrials rose more than 120 points.

haulingthescoreup · ‎01-30-2008

No drop in the WSJ prime rate yet. At this rate, USAA will be paying me interest on the HELOC...

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

haulingthescoreup · ‎01-31-2008

Bankrate.com still doesn't show a change in the prime, but the Journal's own page does:

http://online.wsj.com/mdc/public/page/2_3020-moneyrate.html

Hope this doesn't make inflation take off. That's even worse than recession. Anybody else here old enough to remember "stagflation"?

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

Anonymous · ‎01-31-2008

I sure do hauling! DH & I were in the process of buying a house. Took us 4 months to close on it.