Remember I warned you

Fed Cuts Interest Rate: Financial News - Yahoo! Finance
Okay this is what I would call over correction--we just had two teens die because of over-correction--its a very dangerous thing.
My suggestion is for every family to have a stash of cash and gems set aside because if the feds over correct here's what could happen.

1. the other countries start to devalue our money to the point where the dollar starts slowing down to the peso
2. it will slow the housing market even more-convenienal wisdom is that if the interest rate goes down, the mortgage interest goes up.
3. it will send an even worse signal to investors who will begin to pull their money...and the stock market to 'crash'
4. it will make companies sit on their money instead of hiring new employees...worse, cause many of them to panic and try to conserve money by cutting work force.

I don't know why they didn't do a 1/4% cut now and wait until the regular meeting next week to cut the other 1/2% if needed.
I think they TOTALLY over reacted!