Cyrillic Partners

Rumors that the U.S. Federal Reserve was having an emergency meeting to discuss a rate cut spooked Asian markets Tuesday, demonstrating the importance of the FOMC’s efforts toward increased transparency (see our story).

From the MarketWatch story: “What happened was there was talk that the Federal Reserve was calling a meeting, which means there is a possibility that the U.S. may cut interest rates,” said Francis Lun, general manager at Fulbright Securities in Hong Kong. “It is just a market rumor,” Lun added.

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