Fed cuts interest rates to 3.5%

[Delta9 UK]

Whoaaa!

BBC NEWS | Business | Fed slashes rates in shock move
FRB: Press Release--FOMC statement--January 22, 2008

Let's hope it works

Delta9 UK Reviewed by Delta9 UK on 01-22-2008. Fed cuts interest rates to 3.5% Whoaaa! BBC NEWS | Business | Fed slashes rates in shock move FRB: Press Release--FOMC statement--January 22, 2008 Let's hope it works Rating: 5

[PaRanOiD81]

Whoaaa!

BBC NEWS | Business | Fed slashes rates in shock move
FRB: Press Release--FOMC statement--January 22, 2008

Let's hope it works

stocks still taking a dump thats whoa!!!!

[dragonrider]

The stock slump is worldwide. In order to turn that around, other central banks may need to cut rates as well.

[stinkyattic]

But... but... but... WHAT recession? :wtf:
And Nero fiddles merrily away...

[dragonrider]

But... but... but... WHAT recession? :wtf:
And Nero fiddles merrily away...

Our government is such a bunch of clueless boobs. Don't be surprised if the solution is to cut taxes for oil companies.

[GrinS]

This isnt gonna do anything but own everyone. After reading this thread, i actually went to my 2 stocks and withdrew it all.. 3,600.. I actually should have done it at the beginning of the year, everyday i looked and was looking about 20bucks a day. If i pulled at 1/1/08 I would have made another 600bucks.

[angry nomad]

The problem is The Federal Reserve is a private bank, and there should be no central bank. The problem is not that the interest rates are too high or too low. The problem is the Federal Reserve itself. When you print more money, that makes everyone else's money worth less, and it causes inflation.

I like Ron Paul's idea of a competing currency based on gold and/or silver. We are competing with currencies all over the world anyway.

The reason The Fed would not want that, is because they would lose power. Kind of like why the federal government here in the U.S. does not want to legalize weed. It is something hard for them to control and tax. Also Big Pharma would have a hard time profiting from weed were it legal, since it's medicine you can grow in your home.

Think about who would stand to gain, and who would stand to lose power and money, if the Federal Reserve was abolished eventually.

The price of gold, oil, food, is all soaring. Why? We are in a recession. Inflation makes our money worth less, but gold, oil, and food all hold their value.

How does one bank have a right to just print money and call it theirs to loan? Imagine if you suddenly said you were a bank, and you printed a million dollars, and said, "hey who wants to borrow this?" You'd be tossed in jail for creating counterfeit money.

[dragonrider]

One reason you need a Federal Reserve bank is in order to respond to financial crises and shifting financial markets, like it is doing right now.

The Federal Reserve does not "print money." It does control the money supply, thereby acting as a sort of "throttle" on the economy and a control on inflation. Some kinds of inflation can be partly controlled by the Fed through the use of interest rates to either speed up or slow down the economy. And the Fed does a VERY GOOD job of controling that kind of inflation --- there has not been excessive inflation for more than 30 years. The other kind of inflation comes from an actual real cost of goods that is not controlled by the pace of the economy. Oil is one example, and the cost of oil spreads through the economy, affecting the price of everything else. The Fed cannot do very much about that kind of inflation. But it can respond to other kinds of economic affects resulting from that kind of inflaltion, like recession.

My feeling is that the Fed is very important and mostly does a pretty good job. I've not been able to understand the Ron Paul supporters' hatred of the Fed, and I do not think a gold standard would work. We were on the gold standard during the Great Depression, the worst economic disaster of the last 100 years or more, and the gold standard did not help then.

If you personally want your savings to be backed by gold, you should buy gold.

[Markass]

My feeling is that the Fed is very important and mostly does a pretty good job. I've not been able to understand the Ron Paul supporters' hatred of the Fed, and I do not think a gold standard would work. We were on the gold standard during the Great Depression, the worst economic disaster of the last 100 years or more, and the gold standard did not help then.

The first quarter of this century isn't over yet, bub...We could see something worse than the depression...this country is in a downward spiral and it makes me so sad to look and see this go to shit over the past few years..

[Breukelen advocaat]

I would advise anybody contemplating selling their stocks to not do so unless they really need the money. Remember, you don't "lose" unless you sell.

I bought some funds in the last quarter of 2007 when the S&P was at a low of about 1425. Now it's much lower than that, at 1310, and it's a better buying opportunity - if you can wait it out and hang in there until the market recovers, which may take a while.