Tom McManus's Market Commentary
Tom McManus's
Market Commentary
What Will Obama Explain in His "Fireside Chat?"
November 11th, 2008
Last week's interest rate cuts by the Bank of England (−1 ½% to 3%) and the European Central Bank (−½% to 3 ¼%) and China’s announcement Sunday of a nearly $600 billion domestic stimulus plan help buttress our view that central bankers and policy makers around the world would cooperate with their U.S. counterparts to respond quickly to the financial crisis and a sharp contraction of consumer demand both here and abroad.
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