London was depressed this morning ahead of today's announcement from the Federal Open Market Committe...
London was depressed this morning ahead of today's announcement from the Federal Open Market Committee on interest rates. The FOMC is the branch of the Federal Reserve Bank that sets interbank lending rates in the US. Most analyts are predicting a 0.25% cut to US short-term interest rates from the 2% level, which would take the country further into territory uncharted for the past 40 years. Wall Street closed down yesterday ahead of the decision - the Dow Jones Industrial Averate off 128.01 at 9,921.45 and the Nasdaq Composite index falling below the 2,000 points level by shed...
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