It is not a secret that the U.S. economy is declining. This has already become a major problem for almost everyone in the international financial markets, homeowners, small business and the list can go on. According to Federal Reserve Vice Chairman Donald Kohn's opinion, the economic crisis is the most serious one since 1990s.

The Federal Reserve held interest rates steady at 2%, rebuffing some talk of another interest rate cut in light of the recent meltdown of Lehman and AIG. This was the first time in a year the vote by the FOMC was unanimous.