Paul Volcker

Stocks Rally on Speculation of Possible Historic Fed Rate Cut, But How Far Can the Fed Go? 

Most of the financial news today is buzzing about the Dow’s 200+ point jump to open trading Tuesday, and attributing it to better-than-expected results from both Goldman Sachs and Lehman Brothers. Sources that have spoken with Housing Wire this morning, however, suggested that the market rally is much more likely due to strong expectations of a full percentage point cut to the Federal funds target rate later this afternoon.