Displaying all articles tagged:

Iggy Pop

Most Recent Articles

Bernanke Attempts to Stimulate American Economy; World Clenches Buttocks

"Well, so much for inflation fears. And a good thing, too," Matt Cooper wrote on his Portfolio blog this morning, after the Federal Reserve, faced with a global stock sell-off ignited by fear of a recession, cut the federal-funds rate three-quarters of a percentage point, the biggest single cut in interest rates, according to The Wall Street Journal, since 1982. Cooper sounded a little like he had just woken up. "The rate cut was needed and the dribbling of half and quarter point cuts," he wrote. Treasury Secretary Henry Paulson, who had been leading a press conference on the hale state of the U.S. economy when the news came in, was also pleased. "This is very constructive, and I think it shows this country and the rest of the world that our central bank is nimble and can move quickly in response to market conditions," he said. Others were more skeptical.