fed cut

Interest Rates

Fed Takes Huge Step to Stop Bleeding – Announces Major Rate Cut

by Joshua Dorkin | September 18, 2007

The Fed just announced that it would be cutting the federal funds rate by 1/2 point to 4.75 percent. This is the first reduction in four years and will affect everything from credit cards to adjustable rate mortgages. Clearly this major cut is indicative of how bad the Fed thinks the economy is. It will [...]

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