Thats what it's looking like to me.
What I take from the Fed's action today is that they're taking inflation more seriously then they're saying. They saw .75 baked in and a full point starting to get priced in and I don't think they were willing to go more than .50. Knowing this would cause a major sell-off, they came up with this idea (just my theory remember). WHEN the economic data keeps pouring in the way it has and the financials keep running into problems, we're going to go down even harder.
They're just delaying the inevitable. We'll gladly take another run through the same gains again though ; )
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Whole bunch of new 28 day liquidity for banks. Joe how does that help finance industries capital needs? ;)
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