stocks: 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)
stocks: Fed Lowers Rates...
- 01/30/08 06:44 AM
It's Fed Day! Hot on the heels of its surprise inter-session rate cut of 75 basis points last week, the Federal Reserve Open Market Committee (FOMC) cut key interest rates again, the fifth straight cut since September 2007. In its statement last week, the Fed said it had decided to cut the federal funds rate "in view of a weakening of the economic outlook and increasing downside risks to growth." In other words, economic data suggests a slowdown in the US economy, and the Fed is acting accordingly. Although we had some Economic Reports released this morning showing a mixed view … (2 comments)
Global Banks Unite in Unprecedented Rate Cuts
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