The Federal Reserve Bank dropped their Fed Fund rate by .50% today. What made this a historic was because of the coordinated move with all of the world's central banks at the same time including China. Japan and Australia have made similar moves but issued statements of support. Russian on the other hand dances to their own beat.

Dropping central bank rates has immediate global impact in this environment. Coordinating the drop and statements at the same time indicates the concern of almost all governments over the current crisis.

The real positive is the fact we did have a coordinated move as it will take more than the US to resolve the issues that are plaguing the economy. Global markets will see this as a real positive as well. Hopefully 401K's and investors earn a few billion of the $2T back soon.

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