The Washington Times - December 16, 2008, 03:34PM

The Federal Reserve has cut interest rates to a “target rate” between zero and .025 percent in an effort to revive the economy, Patrice Hill is reporting.

The Dow Jones Industrial Average rose 225 points on the news.


This is encouraging — stock prices raise as interest rates fall. So all we need is a few more interest rate cuts, and we’ll be set for life.

The Fed’s strategy is beginning to resemble a limbo contest.