From the people who gave us the subprime mortgage mess, ADVICE?

The Federal Reserve is under extreme pressure from the wall street wizards to lower the interest rate to 3% or less. The wizards have gotten themselves, the US, and most of the world economies into a sub-prime mortgage meltdown and now they want the Fed to throw them a rope. The rope, lowering interest rates, is tied directly to printing money which exacerbates inflation by pouring more money into an already inflationary economy.

No one wants a recession, but the US has had many recessions over the years and they do have a useful purpose. They tend to wring out economic excesses that build up over time. They use to occur about every three to four years as a part of the normal economic business cycle. We have now gone approximately seven years without out a recession and just like with earthquakes the longer between quakes the stronger the jolt.

Let's not follow the short sighted advice of the Wizards. Let's hold the interest rate steady. Let's not fan the fires of inflation as a temporary solution to the sub-prime mortgage mess.