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Fed Cuts Discount Rate by 1/2 Point us.news2.yimg.com
Fed Cuts Discount Rate by 1/2 Point
Added 3 years ago on August 17th, 2007
The Federal Reserve, declaring that increased economic uncertainty poses risks for U.S. business growth, announced Friday that it has approved a half-percentage point cut in its discount rate on loans to banks.
The action was the most dramatic effort yet by the central bank to restore calm to global financial markets which have been roiled in the past week by a widening credit crisis.
Source: biz.yahoo.com


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Added by: PollM
Votes: 118
Ratings: 1
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You
Poll
Do you believe the Fed. cut the discount rate by 1/2 point, due to?
Looming problems
40%
Pressure from Wall Street
31%
To Calm the Markets
29%
Closed on September 16th, 2007
This is not a scientific survey, click here to learn more. Results may not total 100% due to rounding and voting descrepencies.
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Posted by: PollM
6:36am, August 17th, 2007
Re: Fed Cuts Discount Rate by 1/2 Point
Free money for Corporate America. Subsidize Corporate America and we'll pay for it with Inflation. Somebody has got to pay.
Posted by: necoates77
2:48pm, August 17th, 2007
Re: Fed Cuts Discount Rate by 1/2 Point
I agree doesn't anybody understand that your rate cut today means higher inflation in the long run, I read that they approved this cut because inflation was lower than they expected, of course the inflation rate they look at excludes energy and food costs. Does that make sense? The two most important things? With increased Ethanol production food costs are going through the roof (corn is getting expensive, and almost all livestock uses corn as feed) and with the peak oil BS energy is going through the roof!
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