Fed Plan Gets Mixed Reviews From CNBC Guests

Everybody seems to have an opinion on the Federal Reserve's plan to ease the global credit crunch. Here's what some CNBC guests were saying Thursday.

Grading the Fed

“The Fed’s action here says they’re on the watch, they’re on ship, they’re being responsive, and that gives confidence to markets that the Fed is taking proactive action here.”

- John Snow, Cerberus Capital Management Chairman

21st Century Fed

“The Fed is in a very challenging environment. I am delighted with what the Fed did yesterday though, because when the initial problems escalated in August and September, the Fed was really trying to employ tools that were decades old. Now I think they’ve really advanced to the next century and really using the tools necessary to comply with an interdependent global financial marketplace.”

- John Lynch, Evergreen Investments Chief Market Strategist

A Long-Term Fix

“In the big picture, the Fed is injecting liquidity, making these funds available. I think it will help, but it’s not a short-term fix, it’s a long-term fix.”

- Marc Pado, Cantor Fitzgerald U.S. Market Strategist