Chart of the Day
One day following the Fed's quarter point rate cut, the stock market traded down sharply. Besides negative reports on the likes of Citigroup and Exxon Mobil as well as continued credit market issues, investors are concerned that the Fed is returning to a more neutral stance (i.e. no more cuts in the near term). For some long-term perspective on the direction of interest rates, today's chart illustrates that the fed funds rate remains within the confines of a long-term downtrend.
- What does a rate cut mean for the stock market? The answer may surprise you. Find out now with the exclusive & highly regarded charts of Chart of the Day Plus.
Source - Federal Reserve
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Quote of the Day
"By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens." - John Maynard Keynes
Events of the Day
November 04, 2007 - Daylight Saving Time ends (US) - New York Marathon
November 11, 2007 - Veterans Day
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