Quick Take: Hair-Trigger Ben and the Pointless Rate Cut

It was the economy, stupid! That's what we were led to believe, at least, when Ben Bernanke and the Fed cut rates by half a point last month. They didn't do it to bail out Wall Street crybabies like Jim Cramer. Of course not. They did it because the jobs picture was so bad! A negative 4,000 for the month of August.

Today, we know that was wrong. The Labor Department's latest figures add up to an 89,000-job gain for the month. Knuckleheads are looking at the September job number (up 110,000) and already speculating that the Fed was "threading the needle" with that cut, something I suggested -- completely in jest -- a couple weeks back. Now, the new job report shows clearly that there was no needle to thread. And Wall Street rallies again. Bad news is good news (because it'll mean a rate cut!) and good news is good news, because it means consumers aren't heading into the poorhouse.

Anyone else wondering where the sanity went?

Read/Post Comments (0) | Recommend This Article (22)

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.

Compare Brokers

Fool Disclosure

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: 538101, ~/Articles/ArticleHandler.aspx, 10/22/2016 9:36:07 AM

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...

Today's Market

updated 12 hours ago Sponsored by:
DOW 18,145.71 -16.64 -0.09%
S&P 500 2,141.16 -0.18 -0.01%
NASD 5,257.40 15.57 0.30%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes