Fed Cuts The rate .75 Percentage Point!

By
Mortgage and Lending with Kris Krajecki - FOX VALLEY MORTGAGE - Huntley, IL
The Federal Reserve lowered its benchmark interest rate in an emergency move for the first time since 2001 after stock markets tumbled from Hong Kong to London and the U.S. economy showed increasing signs that it's headed into a recession.

The central bank cut the target overnight lending rate to 3.5 percent from 4.25 percent

(I was guessing 1/2)  :-)

Policy makers weren't even scheduled to gather until next week! It's the biggest single reduction since the Fed began using the rate as the principal tool of monetary policy around 1990.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Tags:
mortgage
economy
refinance
rates
kris krajecki

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
68,945

Kris Krajecki

Mortgage Broker Huntley, IL
Ask me a question
*
*
*
*
Spam prevention