Skip to comments.
Fed cuts key interest rate half-point to 1 percent
AP on Yahoo ^
| 10/29/08
| Martin Crutsinger - ap
Posted on 10/29/2008 11:35:58 AM PDT by NormsRevenge
Edited on 10/29/2008 11:46:51 AM PDT by Admin Moderator.
[history]
WASHINGTON
(Excerpt) Read more at news.yahoo.com ...
TOPICS: Business/Economy; Government; Politics/Elections
KEYWORDS: economicpolicy; federalreserve; financialcrisis; govwatch; halfpoint; interestrate
To: NormsRevenge
Fed to Savers: Drop Dead.
2
posted on
10/29/2008 11:36:48 AM PDT
by
Chet 99
(Vote McCain/Palin, or this will be our future: http://www.youtube.com/watch?v=QTb5EFZmgbs)
To: NormsRevenge
The market is going to tank. The overnight fed funds rate is ALREADY trading at, or below, 1 percent. To reduce the targeted fed funds rate to 1% today effectively means that the Fed didn't do anything!
The market knows this.
3
posted on
10/29/2008 11:38:05 AM PDT
by
politicket
(Palin-tology: (n) - The science of kicking Barack Obambi's butt!)
To: NormsRevenge
My guess it won’t work when people aren’t wanting to spend in the first place.
4
posted on
10/29/2008 11:39:00 AM PDT
by
MAD-AS-HELL
(How does one win over terrorists? KILL them with UNKINDNESS)
To: Chet 99
You got that right. Every fed rate cut kills my savings just a little bit more. One of these days I expect the banks will start charging us interest for the privilege of storing our cash there.
5
posted on
10/29/2008 11:41:13 AM PDT
by
lonevoice
(Ich bin ein plumber)
To: MAD-AS-HELL
You’re reading my mind...Who in hell wants to borrow money in this environment?
6
posted on
10/29/2008 11:41:40 AM PDT
by
dragnet2
To: Chet 99
We’ll have see what the market does the last hour of trading today.
fingers crossed.
as of 2:37 pm ET
Symbol Price Change
DJIA 9,017.01 -48.11 -0.53%
NASDAQ 1,650.69 +1.22 +0.07%
7
posted on
10/29/2008 11:41:57 AM PDT
by
NormsRevenge
(Semper Fi ... "You know, when you can't ask a question of your leaders anymore, that gets scary,")
To: politicket
The market knows this.
It does seem to have been pretty quiet today.
8
posted on
10/29/2008 11:43:49 AM PDT
by
NormsRevenge
(Semper Fi ... "You know, when you can't ask a question of your leaders anymore, that gets scary,")
To: dragnet2
not just that but banks now are going to be awfully careful who they want to give money to. Having a high fico score with limited income cuz you were just laid off or fired doesn’t give a loan officer confidence.
9
posted on
10/29/2008 11:44:16 AM PDT
by
MAD-AS-HELL
(How does one win over terrorists? KILL them with UNKINDNESS)
To: NormsRevenge
Yes, but who will require businesses to recognize the losses on their books?
Or, will the Feds continue to allow and assist everyone in ignoring the dead assets?
How long will this corpse of bad mortgage paper stink up the place before the undertaker is called?
10
posted on
10/29/2008 11:49:17 AM PDT
by
Uncle Miltie
(Bushonomics: Privatize Gains, Socialize Losses......."PAULSON'S THEFT")
To: NormsRevenge
I had hoped that they would only go a quarter point. It would disappoint some but it would prevent a new slide in the dollar.
Juggling is hard.
11
posted on
10/29/2008 11:58:17 AM PDT
by
Uriah_lost
(Obama just woke up with a moose head in his bed....)
as of 332 PM ET
DJIA 9,270.29 +205.17 +2.26%
NASDAQ 1,691.80 +42.33 +2.57%
12
posted on
10/29/2008 12:35:54 PM PDT
by
NormsRevenge
(Semper Fi ... "You know, when you can't ask a question of your leaders anymore, that gets scary,")
13
posted on
10/29/2008 12:41:17 PM PDT
by
NormsRevenge
(Semper Fi ... "You know, when you can't ask a question of your leaders anymore, that gets scary,")
Chairman of the Federal Reserve Ben Bernanke sits in the back seat and reads the 'Financial Times' newspaper as he arrives in his car
driven by a security agent at the Federal Reserve Building in Washington,
October 29, 2008. (Larry Downing/Reuters)
14
posted on
10/29/2008 12:46:39 PM PDT
by
NormsRevenge
(Semper Fi ... "You know, when you can't ask a question of your leaders anymore, that gets scary,")
3:58 pm EDT
DJIA 8,997.73 -67.39 -0.74%
NASDAQ 1,662.17 +12.70 +0.77%
15
posted on
10/29/2008 1:01:40 PM PDT
by
NormsRevenge
(Semper Fi ... "You know, when you can't ask a question of your leaders anymore, that gets scary,")
Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson