Seriously. The rest of the members are incompetent, and most everyone here, along with the rest of the U.S. population will reel from the aftermath of the wake of destruction they're laying down right now. http://www.forbes.com/feeds/afx/2009/01/28/afx5977489.html Thomson Financial News US FED: Fed Maintains Range of 0.0% To 0.25% For Fed Funds Rate 01.28.09, 02:29 PM EST Washington, January 28 - The Federal Reserve decided to maintain its fed funds target rate at a range between 0.00% and 0.25% as expected. It remains the lowest target ever set by the Fed since it began publicly setting rates in 1990. Now that the Fed has no more room to cut rates, it is now in the process of purchasing large quantities of agency debt and mortgage-backed securities and will expand these purchases 'as conditions warrant.' The Fed had only stated plans to do this in their last statement on December 16. The Fed has also said it is 'prepared' to purchase longer-term Treasury securities, a move they were only evaluating during their last meeting. The Fed also repeated that the outlook for economic activity has 'weakened further', and conditions 'are likely to warrant exceptionally low levels of the federal funds rate for some time.' In this release, it said that it 'anticipates that a gradual recovery in economic activity will begin later this year, but the downside risks to that outlook are significant. The Fed says inflation pressures 'will remain subdued in coming quarters.' Last month it expected inflation to 'moderate further in coming quarters.' Voting against the measure was Jeffrey Lacker, 'who preferred to expand the monetary base at this time by purchasing US Treasury securities rather than through targeted credit programs.'