|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    23rd 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




US Fed slash interest rates to record low

Bookmark and Share

by Kay Mitchell
”US

The US Federal Reserve has cut interest rates today as widely expected as it fights off a deep and prolonged recession.

Rates have been slashed from 1% to 0.25%, its lowest level since records began over 50 years ago.

The cut was no surprise since recent figures revealed that US consumer spending has plummeted, while US industrial production dropped 0.6% in November, with manufacturing down 1.4%.

The Fed has made aggressive cuts since September last year, when rates stood at 5.25%.

The Fed warned in a statement today that “the outlook for economic activity has weakened further”.

Discuss this in the Finance Markets forums

Story link: US Fed slash interest rates to record low



News posted: December 16, 2008

Financial Services:





Related financial stories to: US Fed slash interest rates to record low:
Previous: «
Next: »

Visited 3194 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , , , ,