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Federal Reserve Cuts Target rate by 75 Basis Points to 2.25%
economicnews.ca — 14:15 03/18 (CEP News) Washington – The Federal Reserve announced Tuesday that it cut the federal funds target rate by 75 basis points to bring the key interest rate to 2.25%. The discount window was also cut by 75 basis points to 2.50%.
gpost12345- 70 diggs
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- VikingoTJ, on 03/18/2008, -0/+8Watch inflation go through the roof.
- caferrell, on 03/19/2008, -0/+1Well they are now loaning money at rates well below inflation.
The rich will now definitely get richer, all they have to do is borrow dollars at these incredibly low rates, buy euros and invest in CDs in Europe. There goes our capital ...........
- caferrell, on 03/19/2008, -0/+1Well they are now loaning money at rates well below inflation.
- Stryder81, on 03/18/2008, -0/+8BUY GOLD & SILVER GUYS...If you don't know how, Start researching the Gold & Silver Bullion and seriously get crackin', F- The Fed >:-I
- siszam, on 03/19/2008, -1/+1You can buy silver directly without paying shipping here. http://www.silverpa.com/how_to_order.html
If you don't mind shipping charges then APMEX is fast and reliable. They will buy it back from you later too. Don't pay Ebay prices though.- Stryder81, on 03/19/2008, -0/+1I was thinking of Monex, what do you think?
- siszam, on 03/19/2008, -1/+1You can buy silver directly without paying shipping here. http://www.silverpa.com/how_to_order.html
- 2bsbc, on 03/18/2008, -0/+61) Fed cuts rates, the long end of the yield curve rises, interest rates (to the consumer. You can't borrow directly from the Fed) rise. 2) Cost of money increases because of lack of trust, inability, or deflation of monetary supply through the reduction of the slosh or programs such as the TAF, and the Libor rates increase which causes interest rates to rise. Watch the bond market, it is the indicator we need to pay attention to.
We are under attack, while the CEOs of the investment banks, and home lending companies are vacationing or receiving huge pay offs. We will be responsible for the cost of the Bear Stearns "acquisition", through increased taxation. I guarantee there is a bill being presented as I type. Buckle down, we are only getting started. - VikingoTJ, on 03/18/2008, -0/+3BOHICA!
- SparkyMaGee, on 03/18/2008, -0/+3There isn't any good place to put your money, and when that happens people usually buy gold and/or silver.
- gpost12345, on 03/18/2008, -0/+1Is there a chance foreign central banks will interfere?
- 2bsbc, on 03/18/2008, -0/+2If by interfering you're implying a flight from the dollar into the Euro, Yen, Ruble and Franc, coupled with the purchasing of commodities; I'd suggest it's already happening.
If by interfering you're implying a devaluation of their own currencies in order to protect their exports; again I'd say the odds aren't so good; what's the purpose of increasing inflation in your own country for a dollar that has been inflated to be valued at nothing. Furthermore, why would these countries import our inflation, when they have been burnt by the sub-prime mess, and the mis-pricing of risk through rating agencies such as MBIA, etc? The ECB has one mandate, and it's to control inflation; so far they have held, while we cut. The Yen has been on a tear, the Loonie is holding it's own and the Franc was at parity last time I checked.
If you're implying that this is leading up to a currency such as the Amero; well, one only needs to do their own research to find out it's not as crazy an idea as some who post on Digg think!- caferrell, on 03/19/2008, -0/+3Yup, the Amero might happen and George Bush will have his dream come true. He will be one of our most remembered Presidents: the one that killed the dollar.
- 2bsbc, on 03/18/2008, -0/+2If by interfering you're implying a flight from the dollar into the Euro, Yen, Ruble and Franc, coupled with the purchasing of commodities; I'd suggest it's already happening.
- ScienceDoc, on 03/19/2008, -0/+2Watch the banks get rich - JP Morgan etc, while you get to pay!
- suzywang3000, on 03/19/2008, -0/+0it's about frigging time, Benjamin Shalom! Geez, I thought you were the so-called "buff" of the Great Depression. You kept the overnight rate far too high for far too long.
- Pennyhead, on 03/20/2008, -0/+0This is definitely NOT GOING TO BE GOOD. That's all i can say. If Inflation wasn't already bad enough, I agree with the first poster, it's gonna skyrocket.
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