Message to Fed: Leave rates alone!

I agree, at least in part on all points however, I doubt that the Fed will remain in a static position. Today's market rally is a precursor to expectations - and those expectations are that of a 50 basis point cut. So far Ben has been a puppet to Wall St. and it would surprise many to see a logical approach come into play. Yes, the price at the pump will do much in the positive, but it has to reflect the wholesale price relative to retail which remains months away. Not only was our government slow to react those of many nations are in the same predicament with the result being world wide economic problems. The damage is extensive and no amount of stock market rally will prove a quick fix. Trade works on consumers and much better when they are optimistic.
The banks don't know when to quit and are presently working on exacerbating their own creation. Raising rates on lending, new ATM fees, new credit card charges and any other method to try to recoup losses are now becoming part of our financial system. It's a fools paradise and until both government and the financial system wakes up to the fact that they require solid investment and consumers that are not afraid to engage in trade and lending for fear of underhanded tactics, conditions will remain in the negative much longer.
In short, confidence has to be restored and the banking system needs a bit, bridle and someone pulling the reins. Personally, I think some of the leaders of this area should be breaking rocks.

Interest should go higher.This is why we are in recession.Is time to make US $ stronger, so the US coutry will be stronger.Our export quality products also will be better.
Janusz

for a change the Fed should lead and not follow wall street. Cutting rates does not help the majority of the people. Interest rates on saving accounts gets lower and people on fixed income, who rely on their saving suffer. For once, BEN, show some back bone and hold the discount rate to its present level.

I like the way this reads and I'm not so market savvy. I was at the top of the heap with everyone else Oct, 2007 and I didn't move to cash and my numbers dropped plenty in one year. Now here is Oct again. If the market rebound my dropped numbers will go back up as if though all this hell never happened. It would be like a bad dream. But dreams are not going to fix this. If the feds lower the rate, like a jump start on a car motor, and let it run for a bit, then the fed is to ease the rates up because the drop was only a quick start. If the motor does not run on its own after a quick start we know the car has another problem that needs fixing. We don't leave the jump on the battery. We either buy a new battery or fix some electric short in the system, something. But we don't hold the jump to the cable indefinitely. It was just a jump start, like the heart machine. Then, the thing has to run on its on or it has to be fixed otherwise. (These examples of "quick start" are everywhere.)

I like the way this article reads.

The Fed should realize that excessive interest rates cuts are destroying the retirement income of prudent Americans who saved their money and didn't speculate in risky stocks. They will soon be earning zero interest on their money.