Fed Funds Rate Cut to Lowest Level Ever
The Federal Reserve has cut its target for a key interest rate to the lowest level on record and pledged to use “all available tools” to combat a severe financial crisis and prolonged recession. The central bank says it reduced the federal funds rate, the interest that banks charge each other, to a range of…
Cheese Louise. Are going to end up like Japan?
ditto…those kind of comments should be made in the “Open Thread.” Shame.
Let me know when its -0.25%.
The recession was officially DECLARED a couple months ago after it was confirmed that it had been going on well over a year.
cw…it officially began last December. The NERB came out a few weeks ago and they are the arbitrers (sp) of such things.
Anybody who can predict rates can get a job working for any firm on WallStreet and write their own paycheck
How is this already the longest recession in the last quarter-century when it’s only a couple of months old?
I’m with Ringo and want to refinance as soon as rates go below 5% – will we see that and how soon?
0 or 0.25 percent won’t cut it, they’d have to do more or think of some other strategies. Dark days.
Can someone who knows how mortgages work tell me when/if I should expect mortgage rates to react? I think I should be refinancing if the 30 year fixed falls under 5%, but I’d really rather not deal with any of this under after year end. I have that time, right?