We can be assured that Helicopter Ben will have little choice but to cut the FED rate tomorrow as the FED futures are now pricing in a cut by more than 80% probability. Considering the magnitude of the current financial meltdown I wouldn't be surprised to see a 50 basis point cut tomorrow or greater, especially given the the rapid and unexplainable accent in the USD combined with a severe correction in commodities that has coincidentally afforded them plenty of maneuvering room.

DOW futures already down by 140 points tonight while Hank is telling everyone who will listen that US banks are in good shape.