Investors are crossing their fingers and hoping another rate cut will be announced by the Fed today. With the housing market, a credit hangover, and high oil prices weighing on Wall Street’s mind, many fear consumer spending (which accounts for almost 2/3 of GDP) will take an extended holiday without Fed intervention. Still, while many believe the Fed will act, GDP growth may slow anyway.
Related Links:
http://www.federalreserve.gov/