Fed Cuts Rate (Again) By a Quarter Point, to 2%!

Fed Cuts Rate (Again) By a Quarter Point, to 2%!

www.iht.com

WASHINGTON: The U.S. Federal Reserve reduced short-term interest rates for the seventh time in seven months on Wednesday, the latest in a series of measures it has taken to stabilize financial markets. The central bank lowered its federal funds rate — the rate it charges banks for overnight loans — by a quarter of a percentage point, to 2 percent from 2.25 percent.

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Awesome! Stagflation here we come!

If I didn't know any better, I'd say that the "conspiracy theories" of these idiots deliberately trying to zero out the value of the dollar are appearing more like fact each and every day with this idiocy.

Get ready to see our already massive upswings in costs on food and fuel accelerate at breakneck paces now...

"My view is that the Fed is back doing the silly things it did in the 1970s, of trying to make judgments that have long-term consequences based on short-term data," said Allan Meltzer, professor of political economy at Carnegie Mellon University. "It should get back to the period of 1985 to 2003 known as the Great Moderation."

The Fed's recent move, coupled with the uncertain performance of the economy, appeared likely to deepen the partisan impasse in Washington over how to respond to joblessness, the mortgage crisis, energy costs and other problems.

www.iht.com
(visit the link for the full news article)

Agreed... or is that just 'greed' -- this system is already worthless and simply running on blind faith. I sure hope I can find a sucker... ummm... I mean a buyer for my house soon.

And I've always said, "You keep your faith out of me!"

if they bring down below 0, does that mean they'll be paying us to take their money?? or maybe it's....we'll be paying the trash collector to haul it off to the dump...
ain't figured that one out yet.

I feel we are being held hostage by the stock market or something....drop the interest rates lower, or we'll crash your markets!!

Lower interest rates= More inflation.

It is not just Americans that are paying for this new measure, it is everyone around the world who holds dollars as a forex stash.

The control of the big banks over currency must end. The federal reserve must go. Fiat currency must end.

Only then can the economy become stable in the long term.