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What Would You Do With Interest Rates?
The Federal Reserve is scheduled to make an interest rate announcement tomorrow afternoon - and it comes at a time when Ben Bernanke is walking a tight rope of what to do - and say. The Dow dropped over 500 points on Monday - the worst drop since the NYSE reopened after the attacks of September 11th.
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Unexpected Consequences - AIG Looks for Billions
AIG has been downgraded by Moody’s as one of the United States largest Insurance companies has been denied access to federal funds and not even access to a “bridge loan” that would give the company time to sell some assets - However, it is being reported that AIG is in need of $75 Billion
Oil Drops well below $100 - Dollar Hangs Tough
The US Dollar has given up some ground - but surprisingly not that much. It appears that the unwinding of several trades and the need for cash transactions may be holding the greenback up as a necessary instrument of trade. Oil positions are likely being liquidated and so all the selling is dropping the price.
Free Webinar - Tune in to Live Coverage of the FOMC Announcement visit www.ienweb.com to register