discount rate: Fed Lowers Rates...
- 10/08/08 07:35 AM
Global Banks Unite in Unprecedented Rate Cuts Ben Bernanke and the Fed brought financial aid to the streets, lowering the Federal Funds Rate and Discount Rate by 0.50%. In an unprecedented emergency move, central banks across the globe joined in lowering interest rates. This move follows Washington's passing of the $700 billion Rescue Plan. From Wall Street to Main Street, a common concern has been heard by Washington. "We need money... no, let me rephrase that...we need cheap money." Rates Could Rise From HereHome loan rates have benefited from the weakness in the financial markets. Fixed rate mortgages remain very attractive. … (0 comments)
discount rate: Fed Lowers Rates...
- 01/22/08 04:20 AM
Those hoping for lower overnight rates got them. "The Federal Open Market Committee has decided to lower its target for the federal funds rate 75 basis points to 3.5%. The Committee took this action in view of a weakening of the economic outlook and increasing downside risks to growth. While strains in short-term funding markets have eased somewhat, broader financial market conditions have continued to deteriorate and credit has tightened further for some businesses and households. Moreover, incoming information indicates a deepening of the housing contraction as well as some softening in labor markets. The Committee expects inflation to moderate in … (4 comments)
Global Banks Unite in Unprecedented Rate Cuts
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