Breaking Financial News: Emergency Fed Rate Cut
Today’s breaking financial news is an emergency Fed rate cut of 75 basis points, bringing the overnight lending rate to 3.5 percent and the fed funds rate to 4.0 percent. This is the biggest cut since 1982. Apparently, while the Fed still won’t say “recession,” it is starting to take the economic situation seriously. MarketWatch reports on the emergency Fed rate cut:
With the move coming just eight days before the next scheduled meeting, “there can be no doubt that the timing of this morning’s move is aimed at supporting global financial markets after yesterday’s global equity meltdown,” wrote Joshua Shapiro, economist for MFR Inc.
It is worth noting that the stock market is still struggling with worries, despite the move, and stocks are not surging to recovery. Expect quite a bit of volatility today, and in the days to come.
Tags: emergency-fed-rate-cut, investing-blog, Personal Finance, personal finance blog, stock-market, stock-market-panic, U.S.-recession, yielding wealth
4 opinions for Breaking Financial News: Emergency Fed Rate Cut
Breaking Financial News: Fed Cuts Rates - Mortgage Rate News - Banks.com
Jan 22, 2008 at 10:58 am
[…] biggest news today is that the Fed has issued an emergency rate cut — the biggest cut since 1982. Today, in response to a stock market that plunged dramatically […]
Things I Don’t Understand - Recession
Jan 22, 2008 at 11:34 am
[…] most I woke up to the news that the U.S. Federal Reserve did a surprise interest cut. Of course, they are using the word “emergency,” signaling fear is […]
US Dollar Forex Trading Forecast: Fed Rate Cut
Mar 4, 2008 at 1:18 pm
[…] Fed rate cut likely to mean more weakness for US dollar in currency tradingAnother Fed rate cut is expected this month. And, as the economic news from the US continues to get worse, larger and larger cuts are expected. The US dollar forex trading forecast is also showing continued weakness for the US dollar. There is some speculation that the Fed rate cut will be 75 basis points, the same staggering cut that marked January’s emergency Fed rate cut. […]
Mortgages - Breaking Financial News: Fed Cuts Rates - Banking Blogs, Expert Advice on Goldparked.com
Jun 6, 2008 at 10:44 pm
[…] biggest news today is that the Fed has issued an emergency rate cut — the biggest cut since 1982. Today, in response to a stock market that plunged dramatically […]
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