U.S. loses control of the crisis

Foreign Exchange Market Finansy22-01-2008 U.S. losing control of the crisis in the U.S. in an attempt to settle the economic crisis in the course went firefighters measures. Today, the U.S. Federal Reserve at an extraordinary meeting of the Committee on Open Market for the federal funds rate unexpectedly dropped its discount rate by a record amount - on 0,75% to 3,5%. A year earlier, such a reduction would have sent the greenback down and out. Today, the markets reacted more restrained, though the shock was all the same. At least, that shock was read in the look of a business channel speaker, when he announced the news. In that meeting will be held today, few people believed. In the morning (Moscow time), there have been reports that the Fed meeting, scheduled for January 29-30, may have to spend before. As a result, it held today, no light, no charge: half past eight in the morning for "ET" American time. The Committee took this decision, taking into account the worsening economic outlook and increasing downside risks. The suddenness of the American central bank has become his style during the current economic crisis in the U.S.. Recall that in the early autumn of the first in a long time rate reduction the Fed shocked the markets. Nobody expected then that the lump-sum reduction could reach 0.5% - above the rate varied by no more than a quarter of a percent.