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 January 23, 2008

Largest Yet, The Fed Lower Interest Rates Again
On Tuesday, the Federal Reserve made a bold move and cut interest rates by 3/4 percentage point. This is not only monumental, but is one of the largest cuts in recent history. The Fed are hoping that this will be the move to ease fears of a recession.
The financial sector was caught by surprise when the decision, to cut rates, came earlier than expected. Most of the people thought the decision would be announced a next week, but the Fed decided to make the move on Tuesday before the US market had opened. This was made as an effort to decrease declining stocks.

Since Sept. 2007, interest rates had been cut three times. In Sept. rates were cut by a half-point and then quarter-point cuts in Oct. and Dec.

In a statement, by the Fed, they claim that their committee continue to act in an "timely manner" and are still open to the idea of cutting rates again if needed.

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