In addition, the FOMC has announced that rates will be kept low for quite some time and that additional measures will be utilized to further increase the size of its balance sheet in an attempt to return liquidity to the credit markets and improve the economy.

While this move will most likely not result in any significant rate decreases for consumers, and will be unlikely to change any interest rates for that matter, the move is simply a move intended to bring some level of psychological relief to the economy.

Full text of the FOMC Statement can be found here.