10:41 pm - US Politicians cannot intervene with market forces.

Fed's 75bp rate cut not enough, further easing still needed -- analyst

NEW YORK (Thomson Financial) - The Federal Reserve's emergency 75 basis-point rate cut showed that central bankers are "serious" about preventing further losses in the financial markets but further easing is still needed, said Kathy Lien, chief strategist at DailyFX.com. "With commodity prices falling, the time was right for the Fed to put a down payment on future monetary policy," Lien said. "This is the least they could have done to avert a recession and we still expect another 25 to 50 [basis points] on Jan. 30th because 75 basis-point is just not enough." Earlier Tuesday, The Fed lowered its target for overnight rates to 3.5% from 4.25%, in a surprise inter-meeting move. Interest-rate futures were pricing in a 96% chance of another 50 basis points rate cut to 3% on Jan. 30. Wanfeng Zhou wz/tk1