The Fed dropped the Fed funds rate to 2.25 instead of 2.0 - as had been rumored this AM.

Wall Street rallied at the end - closing up significantly from Monday - 420 pts.

While its too early to tell - by my guess, the Fed has committed in lending now approximately 60% of its available resources to attempt to ease the short-term credit crunch.

We’ll know if it works in about 30 days.

I think I’ll set up a special page for updates on key financial indicators… I’ll work on that and expect it sometime next week. I’ll make an announcement when I’m done.