FEEDThe stock market has been on the brink of breaking three times this year alone and four if you go back to August of last year. Each time the good ole gumint stepped in to save the day. In January, on Martin Luther King Day, with the US markets closed the world markets were in free fall. I remember not sleeping much that night - thinking about how much money would evaporate from my brokerage account when the market opened.
Fed Chairman Ben Bernanke and his buddies didn’t sleep much either. One hour before the market opened, Bernanke announced an emergency 0.75% interest rate cut (Fed Slashes Key Rate). Since, the Fed normally moves in quarter point, at most half point, increments - the magnitude of the cut stopped the markets in its tracks. The market would regain its footing and grind higher over the next 6 weeks. Continue reading ‘Where Would the Stock Market be without Uncle Ben’
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