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- Rate as of October 29, 2008: 1.00%CNNMoney.com: Fed cuts rates again (October 29, 2008)
- Rate as of July 18, 2008: 2.00%Bank Rate: Federal Funds Rate
- The most recent cuts are viewed as a gesture to ailing banks to prevent further spread of the credit crisis into the greater American economy
- A rate cut occurred just days after the government extended Bear Stearns an emergency loan
- The March 16 announcement occurred on a Sunday, a rare practice for the Federal Reserve
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Federal Reserve chairman Ben Bernanke announced several cuts in the first two quarters of 2008, dropping the Federal Funds Rate to a low of 2.00% on April 30. The Federal Reserve cut the federal funds rate by another half-point on October 29, 2008, bringing it down to 1.00%.CNNMoney.com: Fed cuts rates again (October 29, 2008)
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Federal Reserve Rate Cut News
- CNNMoney.com: Fed cuts rates again (October 29, 2008)
- The New York Times: Fed Cuts Rates by a Quarter Point, ... (April 30, 2008)
- Bloomberg.com: Fed Cuts Main Rate to 2.25%, Says Outlook (March 18, 2008)
- WSJ.com: Fed Cuts by Three-Quarter Point, Suggests More... (March 18, 2008)
- BostonHerald.com: Fed cuts rates by three-quarters of a point (March 18, 2008)
- The Dallas Morning News: Fed Cuts Rate, Aids in Buyout (March 17, 2008)
- Bloomberg.com: Fed Lowers Rate to 3% as U.S. Expansion Falters (January 30, 2008)
- ABC News: Fed Cuts Interest Rate - Again. Will Economy Be Saved? (January 30, 2008)
- Google News: Fed Funds Rate
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Federal Funds Rate Cut Questions
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ACORN is suing to get Federal funding restored. Is it unconstitutional to cut funding? 1 AnswerThe lawyers for ACORN have found a reasonable case for claiming that the Congressional bill cutting their funding was unconstitutional, although I do not think ... read more -
Why are mortgage rates different than the Feds fund rate? 4 AnswersMortage rates are not directly related to the federal funds rate. Mortgage rates are affected by 10-year Treasury Bills, and the anticipated rate of inflation. ... read more -
When a question has been voted "interesting" and additional funds are added, who gets the additional funds (beyond the original tip)? 3 AnswersHi @windowshopping Good Question. The team tipping feature is the feature you are talking about I believe. The added "interesting" votes and their corresponding... read more
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