Like a child who got a reindeer sweater instead of the Wii he was secrertly hoping for, Wall Street sulked after the Federal Reserve unveiled its holiday present Tuesday. Major U.S. stock indexes headed sharply lower after the Fed's policy-setting committee lowered the benchmark Fed funds rate target by 25 basis points to 4.25%, as widely expected. Fed policymakers also cut the discount rate by 25 basis points to 4.75%. Selling may have been fueled by disappointment that the Fed did not make a more aggressive move amid some market speculation the central bank was going to cut the discount rate by as much as 75 basis points.
grrrrrrr
NO MORE TALKING!
