It must have been tough sitting in the offices of the Fed Reserve on Martin Luther King Day and watching the markets around the world plummeting. The "pre-emptive" rate cut from the Fed probably won't stop the US economy from entering a recession, but hopefully it will lessen the severity and length of the downturn. Many expect a further cut next week after the meeting- me included. I have enjoyed reading commentaries in the last 36 hours about the situation and opinion is divided...... "should he have kept his powder dry?" "what is plan B?" "where is the central bank's credibility if this doesn't work?" "too little, too late". One way or another there is going to be a lot of pain before the world markets return to being sunny, kind and friendly again.
Arosa- we are coming!!
P.S. thanks for the input, Catherine xxx
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