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Interest rates are fees paid in order to utilize capital and are expressed as a percentage. In the U.S., there are two critical interest rates that are set by the Federal Reserve: the two mechanisms that influence monetary policy are the Federal Funds Rate and the Discount Rate.
After cutting the interest rate to 1% in October of 2008, the Fed cut the interest rate again on December 16, 2008, by another 3/4 of a percent, bringing the rate down to an historic 0.25%.Wall Street Journal: Fed Cuts Rates to Historic Low (December 16, 2008)
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Fast Facts
- 0.25% is the lowest the Federal interest rate has ever been since the Fed started publishing the target in 1990Wall Street Journal: Fed Cuts Rates to Historic Low (December 16, 2008)
- Monetary policy: Measures taken by the Federal Reserve to influence cost and availability of money
- Federal Funds Rate is the interest rate charged on loans by the Federal Reserve and depository institutions to other depository institutions
- Discount Rate is the interest rate charged on short-term loans by a central bank to depository institutions
- Federal Funds Rate: 0.25% as of December 2008Wall Street Journal: Fed Cuts Rates to Historic Low (December 16, 2008)
- Discount Rate: 2.75% as of April 2008New York Fed.org: Historical Changes of the Target Federal Funds and Discount Rates
- Federal Reserve Chairman: Ben Bernanke
- Federal Reserve system created after the Federal Reserve Act of 1913
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Views: 5
Money Earned: M$0.00
Page revenue is subject to change as we obtain data from our partners
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Wall Street Journal: Fed Cuts Rates to Historic Low
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FederalReserve.gov: Daily Update and Federal Reserve System Purpose and Functions
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Wikipedia: Interest
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Bloomberg.com: Rates & Bonds
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U.S. Treasury: Office of Domestic Finance
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Wall Street Journal: Fed Cuts Rates to Historic Low
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Interest Rates on Twitter Powered by Twitter
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Secured Bank Loan: Car Loans Interest Rates http://cli.gs/UH1nT
@Hindmachdgkj | November 10, 2009 12:28 PM -
Will low interest rates backfire sooner than anyone thinks?... http://tinyurl.com/yc2jfap
@economictsunami | November 10, 2009 12:24 PM -
A weak US Dollar remains, as it hovers around a 15 month low, partly due to consensus that interest rates will... http://bit.ly/4aMbl5
@fxworldmarkets | November 10, 2009 12:24 PM -
Stop foreclosure now! Lower your payments and reducce interest rates on your mortgage loans. http://snipurl.com/sm2eq
@derekcockreh | November 10, 2009 12:17 PM -
http://bit.ly/391wkv Expectations for low interest rates; Europe markets mixed.
@proftherese | November 10, 2009 12:15 PM
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Questions and Answers About Interest Rates | View All | Ask a Question
View All Interest Rates Questions (2358) | Ask a QuestionI should be closing on a house in 30 days - When should I lock in my rate?! Its like gambling right now.... (1 Answer)I would lock in now. A loan in the low 5s is historically excellent and not likely to be seen again in quite some time after the economy recovers. read moreWill the Fed start raising interest rates? Is the Stock Market ready for the rate increases? (1 Answer)The Fed raises interest rates when the FOMC consensus is that inflation is a greater concern than further economic slow-down. Thus, once the FOMC concludes the economic recovery is well ... read moreLowest fixed interest rate credit cards? (3 Answers)The lowest rate I could find was with Nordstrom. Their rate is as low as 4%! However, I personally use Bank of America. Although they have a higher rate of ... read moreUnder what conditions will the Fed start raising interest rates? (2 Answers)love it! I wonder too. It would be nice to see banks offering more than 1% on savings accounts and 2% on cds!!!!!!!!!!!! read more
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