This is one amazing news article title, Fed to press rates toward zero:

A half-point cut would take the bellwether federal funds rate to just 0.5 percent, the lowest on records dating to July 1954, as the central bank battles a recession many think will stretch well into next year

This would be the lowest rate in half a century.

So, free money is also predicted by analysts to not turn the economy around, simply assist in sliding it further.

Now beyond the fact that banks are lending money, Bloomberg reports Businesses are still paying 10.8% on their debt.

While rates on everything from four-week Treasury bills to 30-year bonds fall to all-time lows, companies are paying an average 10.8 percent on their debt, up from 6.53 percent in January, according to Merrill Lynch & Co.’s U.S. Corporate & High Yield Master Index. The premium investors demand for lending to companies instead of the government rose to 8.85 percentage points yesterday, compared with 2.96 percentage points at the start of the year, the index shows