Honest Headlines

Sunday, March 25, 2007
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Every day, the I get a very good email from InvestorGuide Daily highlighting some newsworthy events. The other day the email was titled, “DJIA Has Its Best Day of the Year Thanks to the Fed.” The story says this:

Equities ended the day substantially higher than where they started it as the Dow Jones Industrial average rose 1.30% and put on its best single day performance for the year. The broader S&P 500 also rose 1.71%. The major propellant for stocks was the Federal Reserve meeting in which the central bank decided to keep a key interest rate unchanged at 5.25% and more importantly, the statement accompanying the decision indicated that the Fed has slightly changed its stance towards inflation and is less concerned about it now than it was in January.

Nothing like the Fed manipulating markets and the press acknowledging it.

greenspan.bmp

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