Fed Targets Rate Near 0%; FOMC Statement Translated

The 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 … [Read more...]

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Fed Lowers Fed Funds Rate to Historically Low 1%

The 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, … [Read more...]

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Fed Holds Rate at 2%; Fed Statement Translated

he 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 … [Read more...]

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What Does the Fed Decision Mean?

The 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 … [Read more...]

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Fed Lowers Key Rate by 1/4% to 2%; What’s the Fed Really Saying?

The 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 … [Read more...]

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Fed Drops Funds Rate by 1/4% to 2%

The 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 … [Read more...]

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Fed Cuts Funds Rate 3/4 Point to 2.25 Percent; Fed Statement Translated

The 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 … [Read more...]

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Is the Rate on Your Credit Card Dropping?

Do 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 … [Read more...]

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Fed Drops Rate Half-Point to 3 Percent; Fed Statement Translated

The Federal Reserve (Fed) lowered the Fed Funds Rate today by a 1/2 point to 3 percent. This is the second interest rate cut in a week, as the Fed made a surprise 3/4 point rate cut last week in an effort to stave off recession. The following is … [Read more...]

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Fed Lowers Interest Rates in Surprising Move

The Federal Reserve (Fed) lowered the Fed Funds Rate today by 3/4 point to 3.5 percent, in the biggest cut in 18 years. It was a surprising move in that the group is scheduled to meet next week, when they were widely anticipated to lower rates. … [Read more...]

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