January 30, 2008
Well, after an excruciating series of calculations that seems to have taken weeks on end to complete, we at last have our monthly "magic number." The other steps are in more primordial stages at the moment, but in-progress at least.
Today, for the first time in my entire 35-year life, I actually gave a hoot about the interest rate. I was, in fact, riveted by this afternoon's news that the Fed had dropped it by yet another half-percentage point, following last week's 3/4-percentage point drop. According to MSNBC.com (http://www.msnbc.msn.com/id/22780489/), this is the first time that emergency rate cuts have been made between the Fed's meetings since shortly after 9/11. Hel-lo, recession! But I shall not despair -- this could mean that we get just that little teeny bit more house for our humble dollar.
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