Yesterday’s big news was a $200 billion Fed plan to inject liquidity into the financial markets. It had the stock market on a roll yesterday, and all sorts of optimism.

But the question today is this: Will it work?

The idea is to encourage banks (including mortgage lenders) to borrow from each other, encouraging the flow of cash which would, in theory, lead to loosening the credit crunch that is keeping many Americans and small businesses from borrowing money.

American Public Media wonders, though, whether the Fed’s plan will actually work. And if this move works as well as past moves…well, let’s just say confidence in the Fed is beginning to wane.

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