The Fed did not know.......

From the Wall Street Journal:

Fed Still Comfortable With Rate Cut, Even if Rogue Trader Triggered Selloff
By Greg Ip


The Federal Reserve remains comfortable with its decision to cut interest rates Tuesday in spite of news today that the preceding stock selloff may have been related to a rogue trader, a Fed official said.

The official said the Fed didn't know of French bank Société Générale SA's unwinding of a rogue trader's positions when it cut rates. Nonetheless, the Fed remains as comfortable now with its decision ...