NEW YORK, Sept 18 (Reuters) - Toll Brothers Inc (TOL.N: Quote, Profile, Research) Chief Executive Robert Toll said on Tuesday the Federal Reserve's rate cut may signal that the economy is worse than previously thought and likely doesn't indicate the U.S. housing market has hit bottom.
Earlier Tuesday, the Federal Reserve slashed the key federal funds rate by a half-percentage point, the first cut in the rate in more than four years.
"I would have done a quarter instead of a half because it signals we're in deep doodoo," Robert Toll said, speaking at the Credit Suisse Homebuilder Conference. REUTERS
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment