VIRGINIA BEACH, VA, September 18, 2007 -- Following is a statement from economics and investment expert Jim Flinchum on the Federal Open Market Committee's decision today to cut the Fed Funds Rate and Discount Rate by a half point each:

"Today, the Fed made a significant step toward supporting our slumping economy by decreasing interest rates by a full half point," says Jim Flinchum, managing principal of the investment advisory firm Bay Capital Advisors headquartered in Virginia Beach, Va. "In a bit of a surprise, the Fed also cut the discount rate by an identical half percent. Given the ongoing credit shocks, this will help but it won't be enough. At least, it shows the Fed is paying attention."

Feel free to contact Flinchum for more comment and analysis at: (757) 641-3378, jim@baycapitaladvice.com.

About Jim Flinchum
Flinchum is the managing principal of the financial planning and investment company Bay Capital Advisors in Virginia Beach. His deep understanding of the financial world, national and global economics, and investing make him an outstanding Expert Resource for your articles. For more than 35 years he worked in senior-level positions for some of America's premier banking institutions, taught economics for the American Institute of Banking and the University of Texas, and served as a gubernatorial appointee to the State Depository Board.

Jim Flinchum contact
jim@baycapitaladvice.com, (757) 641-3378