The Fed has chopped interest rates to 3.5% lopping a massive 0.75% off their rates, why?
Well, they seem to think by not doing so the USA will drop into .......recession.
I have seen a comment from one banking guru who claims that this move is "obvious panic" and it's difficult to argue against that.
Stock markets are looking extremely volatile right now and despite closing back up on the day it's easy to see how the FTSE could easily take a second hit after early trading losses. There seem to be a lot of jittery dealers and this is now getting very close to home, starting to cause a few flutters in some major UK multiples I will bet. It's coming, just make sure you have your house in order with bank borrowings and debtor ledgers, remember, the survival of the fittest.
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