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Free Money

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The Federal Reserve cuts its benchmark interest rate to a target range of 0%-0.25%, a bigger drop than most analysts expected (it was 1% before). The Fed defended the historically low rate by saying it would "employ all available tools" to combat the recession. You know what would also help in combating the recession? Buying us Palazzo Chupi's penthouse. Just sayin'. [NYT; WSJ; Bloomberg]