Fed Cuts Rates 1/4 Point on Tuesday
A trim on rates went forward today as planned, but was it enough? Wall Street was looking for more on the cut, but this modest cut was done to help the U.S. economy and the housing market across the nation. While the rate cut to 4.25 percent for the federal funds rate was anticipated by many economists a stronger cut of 1/2 point was what many were hoping to see. While all real estate values are local and many parts of the country are seeing healthier markets than those of Phoenix, Las Vegas and many parts of the Central Valley this cut may help the nation skip over a recession some are expecting.
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The quarter point cut in addition to Bernankes Bond auction which I wrote about on my site seems like a fresh approach to creating liquidity in the market. I think Wall Street may need a bit to digest it. It WILL keep attractive interest rates through the rest of the year. GREAT time for investors that need crunch time deductions by making home purchases before the end of 2007.