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Fed Catches Many Off-Guard with Discount Rate Increase
Posted: 02/18/10
By: tomgrisafi
Our Bloomberg terminals here at Indiana Grain lit up this afternoon with some unexpected news.
The Fed said the discount rate, the interest rate it charges banks, would be increased to 0.75 percent from 0.50 percent, effective Friday.
The modifications are not expected to lead to tighter financial conditions for households and businesses and do not signal any change in the outlook for the economy or for monetary policy," per the fed.
Analyst are expecting stocks to pull back from the Dow Jones Industrial Average's recent three-day winning streak as a result of the Fed move, so this news should make for a busy Friday session.
Source: NYtimes
3 Comments
Guest
Posted: 02/18/10
stocktwits feed is flying tonight !
Guest
Posted: 02/18/10
I will be looking for bargains tomorrow... Overall impact to economy is minimal... other indicators more important.
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Guest
Posted: 02/18/10
TRADE THE NEWS