Flash : Fed cuts rates by 25 basis points

Posted Oct 31st 2007 2:18PM by Michael Fowlkes
Filed under: Consumer experience, Federal Reserve

As expected the Federal Reserve announced a few minutes ago that it had indeed decided to cut rates by the expected 25 basis points.

In addition to the interest rate cut, the Fed also stated that inflation growth risks are roughly balanced. The interest rate cut was approved by a 9 to 1 vote.

Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor's Observer.

Tags: Federal Reserve, FederalReserve, inflation, interest rate, InterestRate, rate cut, RateCut

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