Federal Reserve slashes interest rates to zero
The Fed can, and will do much, much more. The signal here should be read as "whatever it takes to avoid a depression."<p>Among other steps, this is likely to mean:<p>- Negative-yielding long-term treasuries<p>- Direct purchase of stocks or ETFs, which would require congressional approval. Expect the discussions to start soon.<p>The steps already taken and the ones to be taken will create financial manipulation on a scale never before seen.<p>If the Fed loses this fight, game over.