With the way the market has been moving violently lower the past couple of week, the Federal Reserve announced today it was lowering its key federal funds rate by half of a percentage point, down to 1.5%. It lowered the discount rate by the same amount, down to 1.75%.

The Fed stated that economic growth had slowed “markedly in recent months,” and that the cut was necessary.

Futures are trading higher this morning, and it looks like we should break the five day losing streak on Wall Street, and get some much needed bounces in some pretty beaten up stocks today.

Popularity: 5% [?]