Fed Cuts Rates Again
January 22nd, 2008 Categories: Keller Williams
(Source: CNN Money)
Former anticipation of this rate cut predicted this to occur at the end of the month. However, with the fear of a recession quickly growing, the unscheduled Fed meeting resulted in the following rat cuts:
Federal Funds Rate (home equity lines of credit, credit card debt): 3.5%
Fed Discount Rate (bank cost to borrow money): 4%
There is some speculation that more rate cuts could be made when the Fed meets again on January 30th. Do you think this rate cut will prevent a recession? Do you think the Fed needs to take drastic measures to prevent one????
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