Fed decision: Half a point cut

Posted Oct 29th 2008 2:22PM by Melly Alazraki
Filed under: Federal Reserve

As expected, the Federal Reserve has lowered interest rates by half a point to 1% to try and improve economic conditions, especially on the consumer side, and give more access to funds.

Markets first spiked up, then went into negative territory. We'll have to wait for the news to disseminate until reaction can be determined.

Fed said downside growth risks remain despite improved conditions in credit markets, but there was no mention of recession. Vote was unanimous.

Tags: inthenews

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Reader Comments (Page 1 of 1)

11-03-2008 @ 7:17PM

Lou said...

It's just a shame that all the Trillions of dollars that went to the Financial Institutions, won't make it to those of us at the bottom, to be able to re-establish some economic regrowth. With the Fed dropping to 1%, where is the trickle-down to those of us in near-forclosure, to help stablize the &*$%#@(%#$ economy!