Jan. 22 (Bloomberg) -- The Federal Reserve lowered interest rates in an emergency move for the first time since 2001 after tumbling global stock markets and a jump in the U.S. unemployment threatened to push the economy into recession.
The central bank lowered the benchmark overnight lending rate to 3.5 percent from 4.25 percent, the Federal Open Market Committee said in a statement in Washington. Policy makers weren't scheduled to gather on rates until Jan. 29-30.
Dow futures paring loss, SPI200 pointing up 3%.
I told you guys this could be something that would make or break today!