If you read or watched the news this week at all, you know the Fed cut interest rates more than was expected to 4.75%. It's supposed to aid those applying for mortgages in the dismal housing market. It was a move as well to improve the spirits and daily activities of Wall Street.
On the other side of the ocean, the decision further increased the dollar-euro exchange, a painful fall-out for Americans here. The rate change isn't the only cause but it sure didn't help. While things could return to normal, i.e., still not good, as US and world markets adjust, for every 1 euro you spend, it equals $1.40. That's quite a chunk o' change.
*Next entry to watch for: "What is Groupe Biblique Universitaire?"
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment