03.18.2008
|
 | Super Moderator | | Join Date: Sep 2007 Location: Michigan
Posts: 465
Last Seen: 2 Days Ago
Persuasion? Independent | |
| Fed poised to cut interest rates again
Fed poised to cut interest rates again 3/18/08 Quote: WASHINGTON - The Federal Reserve is expected to aggressively lower interest rates in its intensified battle against the credit crisis and spreading economic weakness. The question is whether all of the effort will turn the tide.
Federal Reserve Chairman Ben Bernanke and his colleagues have already been working overtime, employing a variety of novel approaches to keep the economy out of a recession or at least moderate the impact of any downturn.
And financial markets are hoping for another big boost today with an aggressive cut in the Fed's key interest rate, the federal funds rate. Expectations are for a reduction of between one-half point and a full point. If the Fed cuts the funds rate by a full point, it would be the biggest single rate cut in more than two decades.
Markets posted strong gains before the Fed announcement after Lehman Brothers and Goldman Sachs reported better-than-expected results for the first quarter. The Dow Jones industrial average was up more than 250 points in early afternoon trading.
Treasury Secretary Henry Paulson made the rounds of the morning TV shows Tuesday to underscore the administration's commitment to keeping turmoil in the financial markets from worsening a struggling economy.http://news.yahoo.com/s/ap/fed_credi...oi6T8WZzms0NUE |  |
Linear Mode
Similar Threads