The Federal Reserve’s rate setting group, the Federal Open Market Committe (FOMC), finalizes its regularly scheduled meeting today.  They are expected to hold rates steady.  There is virtually no room to move rates to the downside.  On the flip side, they have no motivation at this time to raise rates since the economy continues to shrink.

See:
http://www.moneycafe.com/library/fedfundsrate.htm
http://www.moneycafe.com/library/primerate.htm