Video Roundup: Rate Cut Verdict
Published: Tuesday, 18 Sep 2007 | 4:35 PM ET
Cramer Praises 'Uncle Ben'
"Mad Money" host Jim Cramer says the Fed cuts are bad news for shorts -- and great for many sectors, including banks and retail: "Retailers are ramping for the first time in a year," he tells CNBC's Erin Burnett.
The Federal Reserve acted Tuesday, cutting the fed funds rate and the discount rate by a half-percentage point each. Oil jumped to a new high as the news was announced and immediately afterwards, stocks rallied in the strongest reaction to a Fed move since 2001. With the Fed funds rate now at 4.75 percent and the discount rate at 5.25 percent, where will the market go? CNBC's experts weighed in.