Fed lowers the federal funds rate by 25 basis points
Posted by jenndavis on December 13, 2007
The Federal Open Market Committee lowered the rate by 1/4 point
because ”Incoming information suggests that economic growth is slowing, reflecting the intensification of the housing correction and some softening in business and consumer spending. Moreover, strains in financial markets have increased in recent weeks. Today’s action, combined with the policy actions taken earlier, should help promote moderate growth over time. “
All bodes well for us!
