Cheering Greets Fed Announcement
Source: Financial Times - September 18, 2007
September 2007
SCM Advisors' Chief Strategist Maxwell Bublitz was quoted in an article by Anuj Gangahar and Michael Mackenzie on what's next after the Federal Reserve's aggressive September 17th rate cut.
Quoted from Financial Times:
The announcement was a surprise: Fed funds futures had pointed to a 33 per cent chance of a 50bp rate cut before the announcement. Analysts said further rate cuts would depend on the nature of forthcoming economic data...
Max Bublitz, chief strategist at SCM Advisors, said: “This was the right thing to do, although I would have preferred more of a cut in the discount rate. My guess is that more cuts will follow the rather weak data I expect to see this autumn.”
www.ft.com