31Jan/080
Fed's Half-Percentage Rate Cut
Posted on Jan 31st, 2008 @ 1:33 am by CY
As expected by many investors and analysts, the Fed had cut the key interest rate half a percentage to 3% on Wednesday, the lowest level since Spring ‘05. This is the fifth time the Fed had cut the rate since it began with a half-point cut on Sept. 18, 2007, in response to the Subprime Crisis back in Summer ‘07.
Tagged as: borrow, Economy, fed, growth, half-percentage, inflation, jobs, rate cut, subprime