On October 28, 2011, the St. Louis Cardinals won game seven of the World Series. For the
Question:
On October 28, 2011, the St. Louis Cardinals won game seven of the World Series. For the next month the stock market fell. The S&P 500 index (an index of the stock prices of the 500 largest corporations in the United States) dropped from 1,285.96 to 1161.41 on November 25. Ten-year Treasury notes were paying 2.31% on 10-year obligations of the government. The Fed had recently announced its intentions to keep its target for the federal funds rate between 0 and 0.25 percent for at least another year.
Look up today’s S&P index, the 10-year Treasury interest rate, and the fed funds rate. You can find them at http://money.cnn.com. Provide an explanation for what has happened to those three numbers since 2011.
Step by Step Answer:
Mylab Economics With Pearson Access Code For Principles Of Microeconomics
ISBN: 9780135197141,9780135197103
13th Edition
Authors: Karl E. Case; Ray C. Fair; Sharon E. Oster