Fed Cuts Interest Rate by Quarter Point to 4.5%

News Type: Event — Seeded on Wed Oct 31, 2007 8:47 AM EDT

Article Source: Yahoo! Finance

business, money, federal-reserve, trade, fed, interest-rates, deficit, ben-bernanke

...With oil prices soaring and the housing market sinking, the Federal Reserve is likely to combat the economic turmoil with more interest rate cuts.

Federal Reserve Chairman Ben Bernanke and his colleagues were wrapping up a two-day meeting Wednesday and many economists believe they will announce that they have decided to follow September's half-point cut in the federal funds rate with a quarter-point cut at this meeting.

"They are going to cut rates," predicted Mark Zandi, chief economist at Moody's Economy.com. "The economy is weakening and financial markets remain unsettled."

Many analysts said this rate reduction probably will not be the last either, as the central bank keeps reducing rates to help the economy overcome a host of problems....

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2.1

{"commentId":1145491,"authorDomain":"newsguru"}

newsguru

Some think it won't help, but I think it will certainly encourage lenders to loosen up the credit guidelines for prospective home buyers.

{"commentId":1145491,"threadId":"169672","contentId":"1062129","authorDomain":"newsguru"}

2 votes

#1 - Wed Oct 31, 2007 3:08 PM EDT

{"commentId":1146204,"authorDomain":"kmk"}

kmk

they better not, we are still "eating that pie". Let the market correct and go its natural path

{"commentId":1146204,"threadId":"169672","contentId":"1062129","authorDomain":"kmk"}

1 vote

#2 - Wed Oct 31, 2007 6:29 PM EDT

{"commentId":1146807,"authorDomain":"bluejohnnyd"}

bluejohnnyd

Meh, it'll help temporarily with the markets, and a bit long term.

I'm kinda hoping that they don't raise it again; the risk of inflation is getting a little uncomfortable, and teh dollar can't take much more before we start to see the effects without having to go on vacation.

{"commentId":1146807,"threadId":"169672","contentId":"1062129","authorDomain":"bluejohnnyd"}

1 vote

#3 - Wed Oct 31, 2007 10:14 PM EDT

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Fed Cuts Rate to Help Ease Housing Slump	Associated Press	Wed Oct 31
Fed Expected to Cut Rates	Associated Press	Mon Oct 29
AP Executive Morning Briefing	Associated Press	Wed Oct 31
Rate Cut Unlikely to Fix Housing Woes	Associated Press	Wed Oct 31
Quotes From Fed Officials on Economy	Associated Press	Mon Oct 29

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Fed Cuts Interest Rate by Quarter Point to 4.5%

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