According to poll results The Wall Street Journal published this morning, a poll says 38 out of 100 economists think the U.S. economy will be in recession in 2008. That number is up 5% from last month’s poll. The same group of economic thinkers also drastically lowered their GDP forecast for this final quarter of 2007, from an annualized 1.6% down to 0.9%.
Of the economists surveyed, 96% thought the Fed would cut rates today. Most said by 25 points. This time, they were right…
Minutes after the Fed cuts rate, Dows tanks 290 points, indicating that traders are all hoping 50 points cut. Well, let's put this into a short question. Do those traders know what the economic situation is?
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