William Bouguereau The Wave painting

William Bouguereau The Wave painting
Pablo Picasso Girl Before a Mirror painting
But the Fed said that even with Wednesday's moves, it still saw the risks in the economy as weighted toward economic weakness -- clearly signaling that more rate cuts may come soon, possibly at the FOMC meeting scheduled for Jan. 30-31. "They'll do more if they need to ensure that the economy doesn't go into a tailspin," said Dana Johnson, senior managing director and head of research at Banc One Capital Markets Inc. in Chicago. "They're absolutely committed to doing everything they know how to do to prevent a hard landing."The Fed's willingness to cut rates fast is a sharp reversal from its campaign of aggressive rate rises between June 1999 and May last year, when it raised short-term credit costs six times to keep a lid on prices as the economy soared.