|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    24th of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Economy News feed Economy News

All Financial News feed All Financial News

Fed in rate cut panic

Bookmark and Share

by Brian Turner
Fed in rate cut panic

The US Federal Reserve has made a shock and unscheduled announcement of a three-quarter cut in interest rates, reducing them to 3.5%.

The move is seen as a panic reaction to a continuing collapse in world stock markets, which threatens to create a crash on Wall St.

The announcement was made only 30 minutes before the New York stock exchange was due to open, and is aimed at being a last ditch attempt to prevent a panic rout among investors.

The announcement shows just how panicked the US Treasury is, the only other recent surprise rate cuts having followed the 9/11 attacks, and the dotcom bust.

The last time that the Fed have cut rates by three quarter of a percent was in 1982.

Discuss this in the Finance Markets forums

Story link: Fed in rate cut panic

News posted: January 22, 2008

Financial Services:

Related financial stories to: Fed in rate cut panic:
Previous: «
Next: »

Visited 3186 times, 2 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.