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:

• Hoping to Prevent Recession - Fed Cuts Interest Rate Again (January 22, 2008)
• Fed Lowers Interest Rates Again (December 11, 2007)
• More from the Federal Reserve (November 8, 2007)
• More economics news as the stock market falls (November 1, 2007)
• Fed Lowers Interest Rates (September 18, 2007)

Check out "Fed delivers another rate cut" from CNNMoney.com, "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 CNNMoney.com'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.