Last night... the Fed officially announced a further 0.25%reduction in the federal funds rate.This decision was approved by a 9-3 votee in the FOMC, indicating significant internal divisions.

Generally,this cut was anticipated, so the market wasn't surprised.The important thing yesterday was the hint that the Fed is shifting from quantitative easing(absorbing money) to quantitative easing (injecting money) by beginning to buy back bonds (around $40 billion/month)to inject liquidity into the banking system.Usually, the Fed only intervenes when banks in the system are experiencing liquidity shortages or holding too many loss-making bonds....$BTC $ETH