As far as I know I've never used an exclamation mark in this blog. I don't like them. I almost did in the title above.
Borrowing money in the U.S., thanks to Fed actions today, is as cheap as it ever has been or ever will be. Banks and borrowers need to get back to business, with the possible exception of over-leveraged consumers.
The Fed also redoubled its pledge to throw every kitchen sink available at the problem of credit availability and lack of growth. Like any other good-sounding idea, we won't know whether it is one until after it has been proven one way or another.