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a meaningful handle on the deficits and the debt. now comes of course the federal reserve. we have ben bernanke here, which has used every tool in its box to keep credit flowing and interest rates low in the wake of the great recession. at 2:15 eastern, a little over an hour from now, the fed will tell us what if anything it plans to do in the wake of the downgrade, the debt snafu, the european debt snafu and the global stock freak-outs. in the meantime, i want to bring in richard quest, just outside the new york stock exchange, and christine romans in our new york studios. i would like to start with you. we just mentioned that the fed is going to speak here or at least issue a statement at about 2:15 today. what if anything can the fed do to help the situation that we re in right now? that s what we all want to know. the fed has kept interest rates at basically 0% since december 2008. the fed twice has embarked on big huge stimulus measures, buying back bonds, buying asset

Wall streetU sBig board thereStandard poor sPresident obamaGrid lockIn washingtonInterest ratesBen bernankeFederal reserveRichard questDebt snafuStock freak outsThe europeanChristine romansNew york