Cutting rates 1/4 pt. This "mid-cycle adjustment" by the FED was not too kind to equity markets as the DOW, which dropped more than 450 points following the announcement, recovered a bit but still suffered good losses.
This is the first cut in the benchmark funds rate since December 2008 !
How will this impact markets? Currencies? As mentioned, equities reacted negative as did gold futures.
As the forum may or may not know, I have been focusing more on real estate here in South Florida than I have on the markets. I can say expectations are for mortgage rates to drop even further from already extremely low levels. Refinance activity will likely remain strong and cheap money for buyers, likely will get cheaper.
To all of you that have kept the forum going, thank you and keep up the great work!