At this point, with a weak dollar and investors using those excess dollars to buy up oil futures contracts and gold, the Fed is in a bind. The Fed knows from past experience during the seventies and early eighties that high oil prices kill our economy. I think the better move is to not lower the fed funds rate. I would have, a few months ago, actually raised it by fifty basis points to strengthen the dollar the prick the oil bubble. High energy prices are like a mammoth tax on the economy.