Business

The Fed is expected to come to the rescue

Unless the Federal Reserve will come to the rescue, Wall Street faces the prospect of more problems and it certainly doesn't need more.Worrying has sent stocks gyrating, with the Dow Jones industrials swinging by triple digits four straight days last week.After Bear Stearns Cos.' chief financial officer described the current situation as being the worst he'd seen in 22 years, the Dow plunged more than 280 points.The markets need to settle down and the Fed's Open Market Committee's meeting scheduled in August could be the only key for this door.The economy is expected to recover for months but everything seems to be getting worst.Even if the Fed will give the market a boost, we should expect it to be a short time one, as it happened before.Is everybody so overwhelmed by the situation that nothing is being done, not even some economic reports?We just have to wait because all the data released is "assumed", "believed", "predicted" and "expected"...The reports from the Commerce Department for June wholesale trade are expected on Thursday and the reports on July import prices on Friday.

by Ana Maria Ciobanu for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

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Edited by: Jana Kalicka

Labels: Business, CantellTV, Chris Cantell, Christopher Cantell, digital broadcasting, SigEx Foundry, SigEx Telecom

posted by Blog TechSource @ 2:42 AM