Keynesian economics: still failing and still believed-in for all these years, in spite of reality. The Fed Funds target rate is now 0 to 1/4%. You (the taxpayer, via intermeddlers in the private company called the Federal Reserve) are aiming to give away money in a desperate bid to improve the economic conditions.
It will not work. Which you would know if you were reading Michael Shedlock. Of course, you would also have seen the announcement coming a mile away, too.
Note: if you are truly creditworthy, now is possibly the time to try to get a loan. They will give you the money and all you have to do is pay back? Sure, why not. I know, I know, there is a point or two in the middle for your bank; but at a small bank where they only makes good loans, where you know your banker by name, this is a good time for the customers who are in good financial shape.
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