Risk and Return

The GDP numbers came out yesterday. For a breakdown, including the inflation component, go here. For the announcement from the BEA go here. The Fed also cut rates by 50bps. Here is the Journal’s story.

Reactions:
Barry Rithotlz- Q4 GDP: El Stinko!
• Consumption slowed to 2% from 2.8% in Q3; I suspect that only partly reflects real [...]

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Can I ask for some applause for this from Crossing Wall Street?
I have to agree with Frederic Mishkin of the Fed:
I think there is too much focus on what decision will be made about the federal funds rate target at the next FOMC meeting. What is important for pricing most financial assets is the path [...]

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