http://www.mortgagenewsdaily.com/4302008_Fed_Rate_Cut.aspThe Federal Reserve announced Wednesday that it cut the Fed funds target rate by 25 basis points to bring the key interest rate to 2.00%. The discount rate was also cut by 25 basis points to 2.25%. In an accompanying statement, the Fed said "substantialenCommunityServer 2008 SP2 (Build: 31106.96)http://www.mortgagenewsdaily.com/4302008_Fed_Rate_Cut.asp#7655Thu, 01 May 2008 11:00:00 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:7655Denise Will someone not wake up and smell the coffee! Cutting Rates does not help mortgage crisis, our gas prices, or our food prices. It just hurts the banks and they will be next crisis in the headlines! <div style="clear:both;"></div><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=7655" width="1" height="1">