US rates slashed to nearly zero

[dipsydoodle]

Source: BBC News

The US Federal Reserve has slashed its key interest rate from 1% to a range of between zero and 0.25% as it battles the country's recession.

In its statement, the Federal Reserve warned that "the outlook for economic activity has weakened further".

It predicted that rates would stay at the current exceptionally low levels "for some time".

It added that it was considering ways it could spend money on supporting the economy and credit markets.

Read more: http://news.bbc.co.uk/1/hi/business/7786282.stm

[county worker]

1. Here's something. Bring back the consumer interest deduction.

Better still how about a credit for consumer interest paid. That would reduce taxes for many of us. A direct dollar for dollar credit for everyone. The working class has more consumer debt so it would be a middle class tax cut.

Or force credit card companies to lower the interest rates they charge. Either idea would put money in the hands of consumers. The credit would give lots of folks a tax refund next spring which they would spend on consumer goods thus helping boost the economy.

[madrchsod]

2. we have become japan in the 90`s--0 to negative interest rates