The Federal Government is gearing to drop the Key Interest Rate.
The Federal Government is gearing to drop the Key Interest Rate.
Back on August 17th the government pushed more money in the banking market to ease some pressure and they announced a half point cut in the discount rate - this is the interest the Feds charge to make direct loans to the banks. However, even with this the economy still appeared to be heading into a recession.
The Feds are hoping to stabilize the fears of Wall Street, foreign investors, you and me by dropping the key interest rate. What we hear is the government just might not stop there as potentially three more cuts could come if fears do not lighten up soon. More to follow....
Back on August 17th the government pushed more money in the banking market to ease some pressure and they announced a half point cut in the discount rate - this is the interest the Feds charge to make direct loans to the banks. However, even with this the economy still appeared to be heading into a recession.
The Feds are hoping to stabilize the fears of Wall Street, foreign investors, you and me by dropping the key interest rate. What we hear is the government just might not stop there as potentially three more cuts could come if fears do not lighten up soon. More to follow....







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