"One of the reasons stocks haven't seen a 'Fed bounce' is that 'although the Fed has been cutting rates for months, the economy hasn't started coming back yet,' said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.
In fact, the economy has deteriorated since the September rate cut. The most recent reading on fourth-quarter GDP showed anemic growth of 0.6% and the first quarter could show a contraction in growth, some economists say. Employers made the biggest monthly job cuts in February in five years. And pretty much every housing market report shows falling prices, lower sales and rising rates of foreclosure."
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Six months after the first rate cut - Mar. 11, 2008
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