Fed holds rates at record low to fuel recovery

By GottaLaff

Via an alert I just got:

The Federal Reserve has decided to hold interest rates at a record low and pledged to keep them there for an "extended period" to keep the recovery going and drive down double-digit unemployment.

But in a more upbeat assessment, the Fed says the economy has "continued to pick up" and that "deterioration in the labor market is abating," a nod to the recent slowdown in the pace of layoffs.

Much more here.

Fed decides to lower key interest rate by 1/4 %

By GottaLaff

MSNBC is reporting that the Fed is lowering interest rates by .25 %. Their target range for Fed funds rate: 0-.25%.

The Dow is at 166 180 as I type this.

Money is free at this point, says the anchorette. They lowered it more than expected.