The Federal Reserve cut the interest rate to the unprecedented range of 0%-.25%. The Fed did this in an effort to combat the recession. The maneuver helped to rally the sale of stocks and treasury bonds on Wall Street. However, consumer and housing spending is still on the decline, and is expected to continue to fall in the new year.
Wednesday, December 17, 2008
Today's Fly Or Die Commerce Report: The Interest Rate Hits Rock Button
The Federal Reserve cut the interest rate to the unprecedented range of 0%-.25%. The Fed did this in an effort to combat the recession. The maneuver helped to rally the sale of stocks and treasury bonds on Wall Street. However, consumer and housing spending is still on the decline, and is expected to continue to fall in the new year.
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