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Reply #31: Interest rates have now been cut five times since 18 September 2007... [View All]

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Home » Discuss » Latest Breaking News

eppur_se_muova

(1000+ posts) Send PM | Profile | Ignore

Wed Jan-30-08 08:51 PM
Response to Original message

31. Interest rates have now been cut five times since 18 September 2007...

US rates cut to avoid recession (BBC)

Interest rates have now been cut five times since 18 September 2007, when the Fed first lowered rates in response to the credit crisis.
***
The last two such emergency cuts were on 17 September 2001, shortly after the attacks of 11 September, and on 3 January 2001, in the wake of the dotcom bust.

The last time the Fed cut rates by as much as three-quarters of a percentage point was in August 1982, almost 26 years ago.
***
more: http://news.bbc.co.uk/2/hi/business/7218055.stm

"since 1982" ... who was in office then? Another monetary mastermind?

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