Fed's Cut Is a Zero-Sum Game.

The author comments on the decision of the U.S. Federal Reserve to cut lending rates. He states that investors are right to bid up stocks when Fed's decision revived the economy. He mentions that home sales and refinancing activity would improve due to likely easing of mortgage rates because of Fed's actions. He believes that any firming of credit markets could provide investors enough confidence to venture out from Treasurys and bank accounts.