Fed cuts rates by a quater on Sunday

federal_reserve_logo_standard.jpgSunday afternoon the Fed took action and cut interest rates by a quater point. This is the first-time the Fed has cut rates on a weekend since 1979.  the Fed is trying to stay ahead of the market and influence liquidity in the shadow of Bear Sterns downturn and JP Morgan chase purchase offer. Keep an eye on the market Monday to see how they embrace or reject the Feds weekend influence. In addition monitor the market for possible affects on consumer interest rates and stimulation of the mortgage backed securities market.

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