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Generally, rate drops are positive for the economy, but the market did not seem to be overly excited by the outcome. Wayne Himelsein, one of my top managers, says when it comes to the Fed the old adage buy on the rumor and sell on the news applies.
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The Fed's downplaying of the money market event is a mistaken strategy
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 On Thursday, U.S. equity benchmarks were staging a test of fresh all-time highs, a day after the Federal Reserve cut interest rates for the second time in as many meetings.
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