The Federal Reserve recently announced that it cut its benchmark interest rate by a quarter percentage point, the first cut since the 2008 financial crisis. The new short-term range will be between 2% and 2.25%. The rate they reduced is the federal funds rate, which is what banks and other financial institutions charge one another for very short-term borrowing. Most consumers don’t do that sort of overnight borrowing, but the Fed’s moves still affect the borrowing...
3718 Hits
1 Comment
Recent comment in this post
The loss of jobs is ever a sad perspective but, when you realize we are in the longest period of growth ever, it is not surprising... Read More
Thursday, 15 August 2019 19:58
3718 Hits