On the Rate Cut by the Federal Reserve Board

Today's Federal Reserve rate cut is another strong signal of Chairman Bernanke's commitment to addressing the consequences of the credit crisis and restoring confidence in the markets.

While the Fed is aggressively working to stabilize the financial markets, the President said he would wait to see 'if there needs to be further action.' Democrats believe that the time is now to build on the Fed's efforts, by taking action to ease the economic burdens facing everyday Americans, especially those threatened by foreclosure, unemployment and rising energy and health care costs.

I am hopeful that the President will work with Congress to help families who are struggling to make ends meet.