FOMC action greases the wheels of the economy

--Fed cut rates aggresively to stay ahead of curve forestalling negative effects brought by credit crunch and housing marke slump --Fed's balancing act shows that it will err on the side of fanning inflation rather than restrain economic growth --Bernanke can not pegged as a cautious, one-step-at-one-time technocrat --He slaped his own face by flip-floping his decision to leave Fed rate intact just one month ago --In response to the crys from financial market, Bernanke is selling the 'Benanke put'