Helicopter Ben Slashes Rates .75%

From Market Watch: Acting forcefully against economic risk and financial market meltdown, the Federal Reserve cut its overnight lending rate by 75 basis points to 3.50%, the Fed announced Tuesday. It was the first time the Fed had cut interest rates between meetings since the 9/11 attacks in 2001. "The committee took this action in view of a weakening economic outlook and increasing downside risks to growth," the Federal Open Market Committee said in a statement. In related news in my house we're now considering using our dollar bills as toilet paper and have put our dream European vacation on permanent hold. Thoughts? Share This