Quick Take: Bernanke's Turbo Cut

Wow. That didn't take long. You want economic results, you get 'em with Ben Bernanke.

According to employment numbers released today by the Labor Department, last week produced a surprise drop in unemployment claims. That's right, the Fed's rate cut was so good, it has given the labor market a retroactive fix. That'll be great news, I'm sure, even if you happen to have worked for Countrywide Financial (NYSE: CFC  ) , GM (NYSE: GM  ) , or the likes of Hovnanian Enterprises (NYSE: HOV  ) .

Clearly, the rate cut was just what the doctor ordered. After all, everyone from bankers to real estate agents to home builders to hedge fund managers wanted it. Surely you remember that shocking jobs report just a week or two back. Team Fed had to step up and save the economy, save Main Street, save all those jobs.

It had nothing to do with juicing equity prices and giving our bubble-dependent citizens another means of feeling wealthy beyond their means. Honest.


Read/Post Comments (0) | Recommend This Article (6)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 537113, ~/Articles/ArticleHandler.aspx, 8/20/2014 4:57:26 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement