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Helicopter Ben: Fed Cuts Interest Rates by 1/2 Point

Federal Reserve Reduces Federal Funds Rate by 1/2 Point to 3 Percent

WASHINGTON (AP) -- The Federal Reserve on Wednesday cut a key interest rate for the second time in just over a week, reducing the federal funds rate by a half point. It signaled that further rate cuts were possible.

The Fed action pushed the funds rate to 3 percent. It followed a three-fourths of a percentage point cut on Jan. 22, a day after financial markets around the world had plummeted on fears that the U.S. economy was heading into a recession. That decrease had been the biggest one-day move in more than two decades.

The half-point cut Wednesday followed news that the economy had slowed significantly in the final three months of last year with the gross domestic product expanding at a barely discernible pace of 0.6 percent, less than half what had been expected. The report came amid increased concern from several quarters about a possible recession.

In a brief statement explaining their decision, Federal Reserve Chairman Ben Bernanke and his colleagues said that "financial markets remain under considerable stress."

Propping up the economy until the "election."

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More Risk

The Middle East oil producers that are married to the monopoly money, their citizens take a inflation hit every time the Fed lowers rates. It remains to be seen how long the Kings can hold back the will of their citizens to prop up Wash DC.

The Iranians are dumping the dollar for oil sales in March now, and that is what the war rhetoric is about.


The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.

I hate that they are doing

I hate that they are doing this, because I know it is destroying the economy.

But hey, I would be stupid to not refinance my house (while complaining about the fed the whole time of course).

this will send gold and

this will send gold and silver soaring in the next 4 months.. buy now why you can!