Fed cuts half point as predicted. Let's Finance!

It's like a Brisk! The Federal Reserve cut a key short-term interest rate by a half-percentage point today, its second significant cut in just over a week, as the central bank tries to combat the growing risk of a U.S. recession.
U.S. stocks, which had been slightly lower ahead of the announcement, surged on news of the rate cut. I'm not going to toot my own horn here, but the Townsley rate-predictometer has been dead-on the money for months.
The "federal funds rate" is an overnight bank lending rate that affects how much interest consumers pay on credit cards, home equity lines of credit and auto loans, was cut to 3.0% from 3.5%. The rate had stood at 5.25% only four months ago. That's a lot of movement. Time to get busy. I'm never too busy for your calls to get it going now.: 415-485-1776, Pat Townsley, Mortgage Broker. http://www.ptre.net/