All these moves do is give the central banks an unbelievable amount of power to curb inflation. As the target approaches 0, and prices continue to fall (deflation), the next move is a massive spending spree.

John Browne

As Mr. Browne states around minute 3, spending might precipitate to $10 trillion before it is all said and done.
GoldenBoy812 Reviewed by GoldenBoy812 on . interest rates cut to save the economy Fed cuts interest rate by 0.75 points Last Updated: Tuesday, December 16, 2008 CBC News The U.S. Federal Reserve has cut the country's short-term interest rate by three-quarters of a percentage point to a target range of zero to 0.25 per cent. That is the lowest level on record for the United States. In announcing the cut Tuesday, the Fed said U.S. labour and market conditions, consumer spending, business investment and industrial production are all falling. Rating: 5