US Federal Reserve
The US Federal Reserve lowers interest rates by half a point to 3% - its second big cut in nine days - as it tries to head off recession.
Interest Rate Unchanged
WASHINGTON - The Federal Reserve has decided to leave a key interest rate unchanged, bringing an end to a string of consecutive rate cuts aimed at keeping the country out of a deep recession.
Ref. USA Today
US Federal Reserve Cut
The US Federal Reserve reduces its key US interest rate from 1.5% to 1 percent its lowest level since 2004.
I do hope that this helps some but at the early stages it does not seem to help. Now the stocks are going down.
WASHINGTON (AP) - The Federal Reserve has cut its target for a key interest rate to the lowest level on record and pledged to use "all available tools" to combat the current financial crisis. The central bank says it reduced the federal funds rate, the interest that banks charge each other, to a range of zero to 0.25%. That is down from the 1% target rate in effect since the last meeting in October.
I do not think they can lower it more now we will have to see what happens with the stocks. I have a feeling that we are going to see it start to slide down again. Now we are almost out of options to halt the downward slide.
Federal Reserve to Buy $300B of U.S. Govt. Debt in Another Attempt to Ease Recession [2:27 p.m. ET] Ref. ABC News
Is Anyone Minding the Store at the Federal Reserve?
U.S. Taxpayers Risk $9.7 Trillion on Bailout Programs
By Mark Pittman and Bob Ivry
The stimulus package the U.S. Congress is completing would raise the government's commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation's home mortgages. Ref. Source 4