Posted By: Dr. Frugal in Loans on 11/01/2007 at 05:21:02
The Fed announced late yesterday they were going to give back a quarter point. The central bank lowered the federal funds rate to 4.5 percent, as had been expected. I don't think this surprised anyone, neither in direction nor percentage. There was some speculation the cut might be a half-point but I think so many people would then have Recession Fever there would be mass suicides. Ok, maybe not mass suicides but you know what I mean.
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