The Fed rate cut yesterday didn’t do enough, by some standards. The cut wasn’t terribly dramatic, and the rhetoric made it clear that the Federal Reserve is more concerned about inflation than with the credit crisis. Even though the Fed did announce a plan to inject more cash liquidity into the market, Wall Street is still disappointed with the Fed rate cut, reports the L.A. Times:
Technorati Tags: cash liquidity, credit crisis, Fed rate cut, Federal Reserve, inflation, mortgage blog, Wall Street"It was not as forceful as it should have been, and their statement
wasn’t as forceful as it should have been," said David Jones, chairman
of Investors Security Trust in Fort Myers, Fla. "They should have said
they would do what it will take to deal with the credit crisis."
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