Markets Take a Punch
Markets took several punches this week and have not gone to the mat. Investors woke up Monday, September 16, to news of the attack on Saudi Arabia’s oil facilities and surging crude futures prices. Economic data from China showed weaker than expected activity in August. The Federal Reserve (Fed) had to intervene and relieve short-term funding pressures in the U.S. money markets, pumping approximately $200 billion into the U.S. banking system. And, at the conclusion of its monetary policy meeting, the Fed lowered its target for the federal funds rate by 0.25%, to a range of 1.75–2%, a move that pleased some investors and disappoint
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