Federal Reserve System "Press Release": http://www.federalreserve.gov/newsevents/press/monetary/20080122b.htm. Here you can find the Fed's statement about one of a few changes to the federal funds rate target and discount rate engineered throughout 2008

Discussion Questions: In this video, http://www.youtube.com/watch?v=N6V5ym9kx_8, congressman Ron Paul criticizes the Federal Reserve for keeping interest rates at a low level despite relatively high inflation rates. Discuss Paul's arguments in light of the information available at the time.