Via MarketWatch.com: "After a conference call Monday evening among the 10 voting members of the Federal Open Market Committee, the FOMC released a statement saying downside risks to growth remain. One member of the committee, William Poole of St. Louis Fed, voted against the move. ‘The committee took this action in view of a weakening economic outlook and increasing downside risks to growth,’ the Federal Open Market Committee said in a statement." This is the largest rate cut since the 80’s.
