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Fed Makes Emergency Interest Rate Cut 2008-01-22 11:31:46

News Flash: Fed Slashed Key Interest Rate This Morning

The Federal Reserve board cut the target rate for banks’ short-term lending from 4.25 to 3.5 percent in response to the free fall that world financial markets have been experiencing. The emergency cut is meant to stimulate the economy and the announcement was made outside the normal meeting schedule. The Fed will still hold its planned meeting next week and there's speculation that they'll announce another cut then. Here's what an economics reporter at the Wall Street Journal had to say:

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kurniakasih kurniakasih 9 years
Temporary solution. We're in the verge of a recession. And those $800-$1600 they're planning to give us later in spring, that's also not going to help long term.
chancleta chancleta 9 years
ok forgive me for asking but: what does this really mean? is it a good or bad thing?
krys786 krys786 9 years
Definitely should have put my money into a CD over Christmas break. Oops!
terryt18 terryt18 9 years
I read the ECB may cut interest rates as well. Global economy thing and all...
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