Market Commentary

The Federal Reserve reduced interest rates by a larger than expected one-half percentage point. The stock market rallied on the news, hoping the Fed's action will stop the spreading credit crunch from sinking the nation's economy. However, the Fed is walking a very fine line as the value of the dollar is falling, and oil prices are at historic levels. This could lead to inflationary pressures down the road, which is a concern of the Fed. 
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