The Fed's 25 Basis Point Rate Hike Is a Good Thing

Despite the problems with the banks and concerns over the debt ceiling, the Fed on Wednesday went ahead with the 25 basis point rate hike it had to telegraph. On Thursday, the European Central Bank followed suit, but said it does not plan to pause. The US jobs numbers came in much stronger than expected, adding another 253,000 jobs last month. Ellen Lee: I think we're probably not going to see that rate cut that everybody is hoping for by the end of the, you know, in the next couple of quarters. Savita Patel: You are sort of in the middle of a PAC, and you're about $4,400 on the earnings guidance.