Interested in opinions. Seems like it would have been a no brainer... Fed has never shown regard for the dollar. What would it hurt to try to make borrowing a little cheaper at this point?
Because it wouldn't make a damn bit of difference - the Fed can say the target rate is blahblahblah, but if no one is willing to lend to each other, you get 8% fed funds offered rates like we saw yesterday
Plus the Fed doesn't want to be Wall St's b!tch. It won't have the desired effect when the rate policies get predictable.
Helicopter Ben and his ET buddies wants to remain vigilante against INFLATION while the entire banking system goes down the tubes . . .