The stock market spiked higher yesterday in reaction to the Fed's move. Seems stupid to me. The only reason the Fed is basically charging nothing for fed funds is a desperation move because economic conditions are so perilous. The Fed is terrified of deflation (and they should be) and I think they really fear a Depression is possible. And for this the market goes up more than 300 points? Sometimes folks just don't get it. Look for a big give back today.