Is it time to start panicking yet? Since when does the Fed do emergency rate cuts? I haven't been following this for long enough, but this is the first one in my memory. Are we in the midst of a dead cat bounce, or is the cut actually working?
I'm not looking forward to the drop in the interest rate my HSBC account pays. My mother will almost certainly be dismayed by the performance of the IRA she funded just before filing her 2006 taxes. She's been talking about getting out of her fairly conservative Vanguard 2015 target date fund and into something "safer" for months. When you consider that every other penny my parents have, including my father's 401k, is in something with guaranteed principal and little growth potential, it seems a little silly to be worrying about market volatility, but they appear to have a risk tolerance of zero.