The Fed meets today and is coming out with rate cuts at approx. 2:15pm EST. I would like to hear everyone's opinion / guess as to what they think the Fed will do today in terms of cutting of the Fed Funds Rate which sits at currently at 3%. Wall Street, well the futures market, is predicting a full percentage point cut down to 2%, however the Fed was very busying this past week or so bailing out Bear Stearns by providing liquidity and backing some of their debt so JP Morgan could come in and takeover Bear Stearns for a whopping $2 a share, great deal if you ask me. Some pros say they won't cut the full point now and save some because of this recent activity.
Anway my opinion is they cut .75% although I would rather see just a .50% cut.
What does everyone else think?