Federal Reserve makes emergency rate cut-three-quarters of percentage point

Federal Reserve makes emergency rate cut
Key U.S. interest rate slashed by three-quarters of percentage point

WASHINGTON - The Federal Reserve, confronted with increased fears of a recession, cut a key interest rate by three-quarters of a percentage point on Tuesday in an emergency move.

U.S. stock futures seesawed Tuesday after the Federal Reserve, responding to a growing financial market crisis, slashed interest rates 0.75 percentage point.

Dow Jones industrial futures, down more than 500 points before the Fed move, were fluctuating violently an hour before the start of trading.

http://www.msnbc.msn.com/id/22780489/

http://www.usatoday.com/money/economy/2008-01-22-fed-cut_N.htm

Fed delivers three-quarter-point rate cut

By Martin Crutsinger, AP Economics Writer

WASHINGTON — The Federal Reserve, confronted with a global stock sell-off
fanned by increased fears of a recession, cut a key interest rate by three-
quarters of a percentage point on Tuesday.

The Fed said it was cutting the federal funds rate, the interest that banks
charge each other on overnight loans, to 3.5%, down three-fourths of a
percentage point from 4.25%.

The action was the most dramatic signal the Fed can send that it is concerned
about a potential recession in the United States. It marked the biggest one-
day move by the central bank in recent memory.

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the ones still open

^ATX ATX 3,610.06 8:15AM ET Down 102.55 (2.76%) Components, Chart, More
^BFX BEL-20 3,537.37 8:30AM ET Up 44.89 (1.29%) Chart, More
^FCHI CAC 40 4,804.99 8:30AM ET Up 60.54 (1.28%) Chart, More
^GDAXI DAX 6,614.94 8:16AM ET Down 175.25 (2.58%) Chart, More
^AEX AEX General 429.36 8:30AM ET Up 6.91 (1.64%) Chart, More
^OSEAX OSE All Share 438.41 8:16AM ET Down 4.37 (0.99%) Components, Chart, More
^MIBTEL MIBTel 25,862.00 8:30AM ET Up 256.00 (1.00%) Components, Chart, More
^IXX ISE National-100 90.13 Jan 18 0.00 (0.00%) Chart, More
^SMSI Madrid General 1,299.75 3:30AM ET Down 65.38 (4.79%) Components, Chart, More
^OMXSPI Stockholm General 307.93 8:31AM ET Up 10.00 (3.36%) Chart, More
^SSMI Swiss Market 7,392.16 8:30AM ET Up 105.02 (1.44%) Chart, More
^FTSE FTSE 100 5,669.80 8:30AM ET Up 91.60 (1.64%) Components, Chart, More

http://finance.yahoo.com/intlindices?e=europe

Nothing like another round to hold off that hangover.

This 3/4 cute will accelerate inflation.
The Chinese are already fleeing the U.S. debt market.
It may prop up the markets for a short-term, but the inevitable result will be inflation - worthless U.S. dollars.
With the coincidental Boomer retirement rush already starting, this looks like the makings of a calamity.

With the Imperial US federal government flooding
the Homeland with increasingly
worthless paper $coupons$,
tis time for the Hucksters to move in
and clean out the remaining suckers.