The cable news networks were highly anticipating the Fed decision Tuesday, with CNBC and FBN even using a countdown throughout the day. Experts were enlisted to attempt to predict the rate cuts.
But as Portfolio.com’s Jeff Bercovici wrote, FBN’s Money For Breakfast took the predictions to astrological new heights. On the morning show, co-host Peter Barnes interviewed astrologer Constance Stellas. Stellas used charts she had drawn up and Fed Chairman Ben Bernanke‘s astrological sign to predict the Fed announcement that afternoon.
Apparently there was a mix-up in the stars that morning — Stellas predicted a half-point cut, while the actual cut was only a quarter-point. But at least everyone now knows Bernanke is a Sagittarius…and he’s 54 today.