Wall street in a flutter as the Fed slashes rates!

Under normal circumstances, the news of the Fed slashing interest rates by as much as 75 basis points would have bought the bull out on a rampage in the markets. But these days it seems that the bull has gone into hiding and is just not interested in coming out.

The economy is fast heading for a tailspin, so the Fed slashed rates as a way of preventing recession from taking hold. All that the Fed have managed to do is to make the Dollar even weaker and this slashing of the rates by as much as 75 basis points has not bought any cheer to the markets. The markets see it as an indication that the recession is not all that far away and that it is time to batten down the hatches.

The Wall Street seems to have been in two minds, with momentum swinging from the red to the green and all the way back to the red. This move by the Fed many have dumped about $50 billion into the financial markets but it seems that this latest move has no takers and could well rush the Dollar into some rather stormy waters.