Taking Stock

I was a little surprised yesterday when the FOMC cut the fed funds rate by 25 basis points, because I don't see where the economy really needed it. Although, it is nice because it looks as though the DJIA could break out and go up another 500-1000 points. It is highly unlikely that the FOMC will cut rates again at the next meeting. I ought to see if I can find out how the consumer confidence indicators are calculated, because I bet that it has been affected by the media ranting about the domestic economy being in a recession. I was also a little surprised to see the GDP growth rate in positive territory, although it helps support the thesis that we are NOT in a recession. What I need now is for the media to start ranting about inflation going rampant, because that would give the price of gold a boost.