In December, the Federal Reserve's Open Market Committee cut interest rates to between zero and .25 percent. This unprecedented move is intended to resuscitate the weakening economy, which has failed to rally despite nine rate cuts in the past fourteen month, the passing of the controversial bank bailout bill in October, and a number of other federal measures to alleviate the credit crunch and jumpstart consumer spending. Though stock prices rose in the days following the Fed's announcement, the dollar fell against the euro and the yen, and whether the rate cut will reverse what has become the longest recession since the 1940s is anybody's guess.

In its December 16th press release, the Fed also signaled a shift in policy, announcing that going forward it intends to "support the functioning of financial markets and stimulate the economy through open market operations and other measures." Over the next several months, the Fed will "purchase large quantities of agency debt and mortgage-backed securities to provide support to the mortgage and housing markets." The committee's vote to cut interest rates was unanimous; officials felt compelled to act quickly and decisively to stimulate the economy following news that unemployment had reached a 15-year high, consumer prices had fallen for the second straight month, and groundbreaking for new homes had reached its lowest level since record-keeping began in 1947. The new interest rate is likely to be in effect for several months.

Thanks to Xerox for providing these time-saving ideas. Read more about how to manage information overload here.

1. Simplify Your Schedule.  Try scheduling meetings (or anything else that takes time away from your primary duties) for a specific day of the week or time of day.  If you can clump distractions together, you'll have more time to focus on what's most important.
    
2. Back It Up.  "No information is worse than too much," Xerox says.  "Make sure you have a solution in place for regular back-up."
    
3. De-clutter Your Desktop.  On your physical desktop, avoid clutter by filing or discarding papers as soon as possible.  On your computer's desktop, make sure your documents are well organized into folders and sub-folders.  Better yet, forget about folders and use a desktop search engine like Google Desktop to help you find what you need.
    
4. Touch It Once.  Don't waste time dealing with the same piece of paper over and over again.  Deal with it immediately by responding to it, filing it, or throwing it away.  Same goes for email.  Don't bother reading anything unless you have time to deal with it immediately.
    
5. Use Your Tools.  If you've got a Smartphone, use it to get the information you need, when you need it.  Why waste time (and paper, and toner) printing driving directions when your phone is a GPS?
    
6. RSS Reprieve. Sign up for an aggregator, like Google Reader or Mozilla Thunderbird.  It'll deliver the news you want to receive, so you don't have to waste time wading through the web.
    
7. Manage Mobile Madness.  Use a mobile device with email support to keep you connected and productive when you're away from the office.  Your in-line, waiting room, airport, and public transit time can now be used as opportunities to take care of business.

Last month we asked you whether you're concerned about losing your job. Here's what you told us:

Reader comments included:

"I am an admin/OMD/back office assistant for a nationwide publicly-traded dealership.  Yes, we just took a 15% across-the-board pay cut and reduction in benefits, and I am thankful to have a job.  That being said, it's a good time to be a sales rep or a tech.  Maybe I'll retrain."  

"Copiers are a safe haven in tough times." 

"Good salespeople never lose their jobs...the bad salespeople will always be struggling.  When is the last time that you were doing well and you said, 'It's not me, it's the good economy?'  If you haven't credited the economy in the last five years, why blame it now?"

"Having great leadership makes a huge difference in troubled times."

"I am not worried about my position and my employees shouldn't be either, as long as they apply themselves.  The only turnover we have seen is from individuals unable to be accountable, i.e. show up for work, do the work assigned, and maintain the qualifications required to have the job.  It's pretty simple."

Will 2009 be better than 2008?