Fed Tuesday Over-Fed

The US government is said to have taken out its first loan on September 18, 1789, tapping US banks. Next Tuesday, 218 years on, Wall Street is looking for something like a return of the favor: an interest rate cut from the Federal Reserve. But investors could already be exhausted by the time the US central bank shows its hand. The summer credit crunch ate into many bankers’ annual beach holidays. As a payback the period since the Labor Day holiday on September 3, while volatile, has so far seen...