We stayed up late last night reading Dr Van K Tharp’s Safe Strategies for Financial Freedom. It’s a great primer on how attain financial freedom without busting a gut. And we thoroughly recommend it to anyone hoping to free up more time for themselves and live off their investments.

Another dollar rally….  Rumors in Ireland…  Trade Deficit narrows…  Retail Sales to disappoint?  And Now… Today’s Pfennig!

In the currency market, the dollar was sharply lower against the euro. Late Tuesday, the euro was trading at $1.2707 vs. $1.2452 on Monday. All eyes were turned toward the Federal Reserve, which began meeting yesterday and will issue its interest rate pronouncement around 2:15 this afternoon, but the preliminary action in equities yesterday (Dow up almost 900) clearly indicated an expectation for a major cut.

In the currency market, the dollar was sharply higher against the euro. Late Tuesday, the euro was trading at $1.5434 vs. $1.5536 on Monday.

At their two-day meeting that starts today, Tuesday, U.S. Federal Reserve policymakers will have to grapple with a moral choice that is well beyond the pay grade of central bankers – choosing between the financial stability of U.S. homeowners and world hunger.