Thursday, January 31, 2008
The Fed has released the FOMC statement for this month and voted to reduce the overnight lending rate 50 basis points to 3%.
This reflects the lowest rates have been since June of 2005. The move was made easier after GDP numbers came out this morning lower than expected, mostly on negative housing growth.
Click here for some thoughts on why the cut was made:
http://pfxglobal.com/index.php?optio...055&Itemid=188
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