Wednesday, January 30, 2008

Fed Lowers Interest Rates -- Again

For the second time this month, the Federal Reserve cut interest rates. The Federal Open Market Committee lowered its target for the federal funds rate 50 basis points to 3 percent. The federal funds rate is an overnight bank lending interest rate that affects consumer interest rates on credit cards, home equity, and car loans. Read the press release from the Federal Reserve.

Check out our previous blogs on the Federal Reserve rate cuts:
Check out "Fed delivers another rate cut" from, "Fed Makes Second Rate Cut in Nine Days" from the Washington Post, and "Fed's FOMC Cuts Again, Slashing Key Rate by 0.5%" from FOX Business.

You might also want to check out's special report, Fed Focus, for all news related to the Federal Reserve.

Craving more information? Check out the library's guides on Banking and Business and Economics.

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