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Archives » January, 2008

Fed Cuts Rate by Half-Point; 2nd Reduction in 8 Days

 
By EDMUND L. ANDREWS
Published: January 30, 2008
WASHINGTON — The Federal Reserve reduced short-term interest rates on Wednesday for the second time in eight days, meeting widespread expectations by investors on Wall Street for a big rate cut.
 
In lowering its benchmark Federal funds rate by half a […]

Read: Fed Cuts Rate by Half-Point; 2nd Reduction in 8 Days

Rate Cut Opens Window for Those Looking to Refinance

New York — The Federal Reserve’s Open Market Committee’s decision to cut a key interest rate by three-quarters of a percentage point to 3.5% could provide an attractive reason for credit-worthy consumers to look into refinancing their homes.
In a financial world where the phrase “subprime mess” is repeated over and over again, credit-worthy borrowers now […]

Read: Rate Cut Opens Window for Those Looking to Refinance

Federal Reserve Delivers 0.75% Emergency Cut to Key Rate

Associated Press
WASHINGTON — The Federal Reserve, confronted with a global stock sell-off fanned by increased fears of a recession, slashed a key interest rate by three-quarters of a percentage point on Tuesday and indicated further rate cuts were likely.
The surprise reduction in the federal funds rate from 4.25% down to 3.5% marked the biggest one-day […]

Read: Federal Reserve Delivers 0.75% Emergency Cut to Key Rate