This is good news for the fed, may not need to cut .50. I just don't see the need to rush lowering rates, we saw what can happen when Greenspan did this. http://www.mortgagebankers.org/NewsandMedia/PressCenter/58713.htm
.25 is a done deal. 50 is becaming more likely by the day, just watch the libor, the market is himself hiking interest rates and lending which the fed needs to counter through lower fed funds to keep it flat, this is not terribly inflationary