The waiting game is over and the Fed has delivered just what the markets ordered... a half-point cut in interest rates. In the statement accompanying today's decision on rates policymakers said, "Financial markets remain under considerable stress, and credit has tightened further for some businesses and households." The central bankers also noted a deepening of the housing contraction and some softening in the labor market. Stocks had been trading lower ahead of the announcement and popped higher on the news. But sellers appear to have stepped in just ahead of the close of trading. Susie Gharib analyzes the Fed statement with Mike Holland, Chairman of Holland and Company, and Michele Girard, Sr. Economist at RBS Greenwich Capital Management.
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