(As of 9:03 am pacific)
China lowered interest rates by a quarter point, sparking
a rally based on an expectation of loosened monetary policy to spur
growth. Bernanke is speaking in the US
and so far his commentary has restrained markets. The talk is that things are not that bad,
growth is still moderate and there is little reason for further easing, but
that they stand ready if needed. The
market is up moderately. Oil is up and
interest rates are up a small amount.
The dollar is down against all but Japan.
