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WEDNESDAY APRIL 30
Fed: Grief Or Relief? Remember when you were a kid, before you’d developed any kind of decent sense of humor, and you’d hear the laugh track on sitcoms and just chortle along maniacally, like you’d actually got the joke…even though you didn’t? No? OK, that’s an overshare. But still, it occurs to us that the Fed, if it cuts rates today – as is widely expected – would be guilty of the same thing. Laughing because you’re being cued in by a machine is absurd. But at least it’s harmless. Cutting rates because it’s all you can do, despite the fact that you know that the dollar will fall and energy prices will rise and you have no idea, what, if anything, the upside will be, is nothing short of a mystery. Here, the best explanation we can find of what happens if the Fed sprinkles its fairy dust at 2:15 p.m. today. April 2008New User?Sign up to get free access to TraderDaily.com
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