Fed Refuses To Bail Out Markets With A Rate Cut

Despite market turmoil, a plunging stock market, the predictions of many investors and vocal calls for interest rate cuts from traders, the Federal Open Market Committee left its interest rate target at 2 percent this afternoon.
My favorite take on this was from MarketWatch. "Just as it had over the weekend to Lehman Bros. and AIG, the Fed said, 'No, you are on your own,'" MarketWatch said.