As of this morning the Fed Fund Cut Rates by 0.50 to decrease the basic rate to 3.00%. The reasoning behind this decision was to "Moderate growth over time." This is what was said back in Sept, Oct of 2007 and when the rate was cut 0.75 points recently.

Other good news is that they did not close the door on future rate cuts. 

Let's hope that these cuts will be incentive enough to keep the market going.  (