Fed cuts rates; crisis over?

[Doug Henwood]

The Federal Reserve just cut its target for the fed funds rate by 0.25
percentage points, and lowered the discount rate by the same amount. The
Dow is up 250 points as I type, with financial stocks strong. That doesn't
mean that people in Thailand will be trading their dinners of tree bark for
ones of chicken in green curry sauce anytime soon, of course. Nor does it
mean that the U.S. stock market will turn in 25% annual returns for the
next decade. But I'm starting to think the worst of the world financial
crisis may be over. Not certain by any means, but leaning in that direction.

Doug