Fed expected to cut interest rate close to zero
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Fed expected to cut interest rate close to zero

December 14, 2008 – 11:15 pm – No Comment

This week the Federal Reserve is expected to drop the interest rate yet again. They are thinking about dropping the over night rate by at least half a point to 0.5%. That is the next to lowest interest rate next to when the Fed cut the rate in July 1954.

The rate cut is supposed to be a preventative measure for the economy. It is supposed to keep us from slipping further into a long and awful recession.

Most don’t see the Fed cutting the rate to zero, but depending on the direction of the economy, it may happen.

Jeremy
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