Fed Rate Cut, A Once-in-a-Generation Event
Mark Zandi, chief economist at Moody’s Economy.com captures the state of the world’s financial markets in this pithy little statement as the Fed moved in unexpectedly to cut interest rates. “It’s a once-in-a-generation event,” he said. The surprise move, unusual in both its scale and its timing, underscored the severity of the current strains facing the American and world economy. It was the biggest short-term cut since October 1984. Read more in The Times and The Economist In India the wild ride of the stock market is bringing in more investors willing to take the plunge.