Skip Nav
Travel
The Top 10 Travel Destinations of 2018
Travel
Dubai's Luxury Hotel Is Downright Ridiculous — Wait Until You See the Amenities
Productivity
Why You Should Nap More

Fed Makes Emergency Interest Rate Cut

News Flash: Fed Makes Emergency Interest Rate Cut

In an attempt to avoid a financial market meltdown in the US, the Federal Reserve made an emergency rate cut on Sunday. The quarter percentage point cut applies to the discount lending rate to financial institutions, bringing the short-term lending rate from 3.5 percent to 3.25 percent. This cut only covers short-term loans that banks receive from the Federal Reserve and doesn't include loans to individual borrowers. This move called upon a Depression-era clause in the Federal Reserve Act that waives the ban on the Fed extending loans to nonbanks, as the rate cuts are extended to securities dealers, too. Federal Reserve Chairman Ben Bernanke said, "These steps will provide financial institutions with greater assurance of access to funds."

Source

NYC Requires Changing Tables in Men's Public Bathrooms
Guide to British Royal Titles
Prince Philip Over the Years
Is CBD Safe?
Same-Sex Marriage Legalized in Australia December 2017
Female Genital Mutilation in Kenya
Why Hoda Kotb Hosting the Today Show Is Important
Study Finds Sunlight Shrinks Fat Cells
What to Say When Asking For a Lower Interest Rate
What Is Dead-Naming a Transgender Person?
From Our Partners
Latest Affordable DIY & Organization
All the Latest From Ryan Reynolds