Monday, September 15, 2008
A short time ago on CNBC, Jim Cramer called for a half-point rate cut for the Federal Reserve meeting this week. He seems to usually get what he wants and, as shown below, Fed funds futures traders seem to be leaning in the same direction.
More importantly, a re-characterization of the U.S. dollar's recent surge as something of an "over-shoot" is throwing a new wrinkle into many markets around the world. The old greenback doesn't look nearly as "less bad" compared to other paper money around the world as it did a week ago.