In order to stimulate the economy out of the current recession, Ben Bernanke and the Federal Reserve Board cut the federal funds rate once again, slashing another quarter percent off to bring the rate to 2.0%.
Of course, monthly reports published recently prove that the US is technically not in a recession—still, consumer confidence is low, and a little jump start may prove useful to spurring consumers to purchase loans once again.
(Unlike when they cut the rates six weeks ago, or last September...)
In the meantime, read the Total Bankruptcy handy guide to What the Interest Rate Cuts Mean for You.
Tags: economy, interest rates, loans
This entry was posted on Thursday, May 1st, 2008 at 9:26 am and is filed under Economic News: How Are We Doing?. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.