Our smarty-pants friends at the Federal Reserve announced today that they will once again hold its Fed funds rate at the 0 percent to 0.25 percent range. Here’s the official press release from the Fed regarding its decision today and a translation (for the rest of us) from Quicken Loans Chief Economist Bob Walters.
Posts Tagged ‘fed translation’
Fed Holds Key Rate, Sees Strength in Economy
April 28, 2010Federal Reserve Talks, Mortgage Rates Drop
March 19, 2009Fed decided to keep targeting the Fed funds between 0-.25%. In bigger news, they announced they would spend another $1.2 trillion buying mortgage-backed securities and other debts from Fannie Mae.
Fed Targets Rate Near 0%; FOMC Statement Translated
December 17, 2008The 10 brilliant minds who make up the Federal Reserve met yesterday to once again discuss the state of the economy and determine the action needed by them to aid a struggling American economy. The Fed funds rate is one way the Fed uses to regulate the supply of money to the US Economy. In [...]
Fed Lowers Fed Funds Rate to Historically Low 1%
October 31, 2008The 10 brilliant minds who make up the Federal Reserve met yesterday to once again discuss the state of the economy and determine the action needed by them to aid a struggling American economy. In an aggressive move, they lowered another 1/2 percent, resulting in a historically low 1% Fed funds rate. The Fed funds [...]
Fed Holds Rate at 2%; Fed Statement Translated
September 17, 2008he 10 brilliant minds who make up the Federal Reserve met yesterday to once again discuss the state of the economy and determine the action needed by them to aid a struggling American economy. For the 2nd time in a row, they chose to keep the Fed funds rate steady at 2%. The following is [...]
What Does the Fed Decision Mean?
June 25, 2008The Federal Open Market Committee (FOMC) announced today that it is holding the Fed funds rate steady at 2%. But what does that mean for consumers? Quicken Loans Chief Economist breaks it down for us, translating each line of econo-talk to everyday lingo… Federal Reserve Press Release – Release Date: June 25, 2008 For immediate [...]
Fed Lowers Key Rate by 1/4% to 2%; What’s the Fed Really Saying?
April 30, 2008The following is an official press release from the Federal Reserve (Fed) regarding its decision today, and a translation (for the rest of us) of all the financial jargon by Bob Walters, Chief Economist for Quicken Loans: — FEDERAL RESERVE press release Release Date: April 30, 2008 Fed: For immediate release Bob: Now Fed: The Federal [...]
Fed Drops Funds Rate by 1/4% to 2%
April 30, 2008The Federal Reserve (Fed) lowered the Fed Funds Rate today by 1/4 point to 2 percent, in an effort to ease continued concerns over a soft economy. This marks the seventh consecutive rate cut and what many analysts believe to be the last cut for awhile, perhaps the rest of the year. Stay tuned for [...]
Fed Cuts Funds Rate 3/4 Point to 2.25 Percent; Fed Statement Translated
March 18, 2008The Federal Reserve (Fed) lowered the Fed Funds Rate today by 3/4 point to 2.25 percent, in an effort to restore confidence in the United States’ distressed financial markets. The following is an official press release from the Fed regarding its decision today, and a translation (for the rest of us) of all the financial [...]
Is the Rate on Your Credit Card Dropping?
February 6, 2008Do you know where the interest rate on your credit card currently stands? With the recent drops in the Fed Funds Rate, the Prime Rate — or the interest rate that many credit card companies use as a base to establish how much to charge you in interest — has plummeted as well. In fact, [...]
Where to Save Your Money as Rates Fall
February 4, 2008The Federal Reserve has lowered the Fed Funds Rate several times in the last couple of weeks. It currently stands at 3 percent. As the Fed Funds Rate plummets, so does the interest you make off your money in savings accounts and money market accounts. So where should you turn to make the most of [...]
