U.S. Fed Cuts Key Rate to 1%

The U.S. Federal Reserve cut it's benchmark rate today sending the markets into a frenzy. This now puts the U.S. rate at 1%, just 1/2 percent less than Japan's 0.5%. It will be interesting to watch and see if this slows down the bullish Dollar trend we have been seeing since July of this year. This move comes after news this week that U.S. consumer confidence is at a historic low and the economy slowed down the most since the 2001 recession.