All eyes on the FED this morning as many expect a huge drop in Fed Funds rate...some suggesting more than a point. That would put the prime lending rate at 5% or less...The question remains, Will this spark the economy?
Banks are still tight on lending. Especially in the Jumbo sector and reduced LTV's. And Wall Street is nervous on the possibility of more fall out from the lending institutions. I can honestly say I agree with them on their concerns. Sit tight and get ready for the wild ride ahead...
Housing starts due out soon, along with reports from Lehman and Goldman Sachs...These reports alone could send the Stock market on a plunge. Get ready for a wild ride today.
More update at 10:00am...
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