The Fed meets again next week - expect another cut

The guy is coming unglued and is going to take us all down because he's simply not up to the task. If the panic today failed to jolt people, that's OK because next Tuesday the Fed starts it's official meeting where they are expected to lower interest rates another 1/2 point down to 3%. This radical action is not going to solve the core problems with the economy. America is not going to use any less oil and while the costs are down, hovering around $90 or more is still not cheap. Elsewhere in the world those prices won't really change because they are buying in dollars, which is the weakling of the major world currencies at the moment. This means continued high gas prices that will translate into high prices for food and energy.

The last thing the average American needs today is more pressure from inflation yet that's what Bernanke is promoting with these cuts.