The US federal reserve announced to cut 0.75% of US federal rate and yield 2.25%. Hence, this action boosted up the Dow by 420 points on 3/18. This was the 3rd time of rate cut of year 2008.
Date ... Cut Current
March 18 ... 0.75 2.25
January 30 ... 0.50 3.00
January 22 ... 0.75 3.50
What is this indicate? Think about it.
