Financial News, and it is Not Good

The dollar is at an all time low, $1.4393:1.00€, and $1.0398:$1.00CAD.

Oil is now at $92.79/bbl.

So, the question is now not just whether the fed can cut rates, but if the currency situation has already precluded any more action in that direction.

Even if the fed cuts rates, if the dollar falls significantly, and all indications are that it will, it will push up rates anyway, as the US needs the foreign dollars to function, but those lenders will demand a better return on their investment for the higher perceived risk..