s r's Blog - Archives December, 2008

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Home : Blogs : s r : s r's Blog : Archives December, 2008

Mortgage rates plummetting thanks to the Federal Reserve today... - 12/16/08 01:33 PM

Press Release

Release Date: December 16, 2008
For immediate release

The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent.
Since the Committee's last meeting, labor market conditions have deteriorated, and the available data indicate that consumer spending, business investment, and industrial production have declined. Financial markets remain quite strained and credit conditions tight. Overall, the outlook for economic activity has weakened further.
Meanwhile, inflationary pressures have diminished appreciably. In light of the declines in the prices of energy and other commodities and the weaker prospects … (1 comments)

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