Fed Cuts Rates by 0.5 Percent
WASHINGTON (Reuters) - The Federal Reserve on Wednesday cut key U.S. interest rates by half a percentage point to prevent the flagging economy from falling into a slump and signaled it stood ready to do more if needed.
The move, which was widely expected by financial markets and follows a surprise half-percentage point rate cut earlier this month, takes the bellwether fed funds overnight bank lending rate to 5.5 percent from 6 percent, and erases all the rate increases of 2000.
To underline its determination to keep the record U.S. expansion on track, the powerful central bank also cut the discount rate on direct Fed loans to commercial banks by a half-point to 5.0 percent.
In a statement released after a two-day session of the rate-setting Federal Open Market Committee, the Fed said it still views excessive weakness as the main risk to the U.S. economy, suggesting it remains open to further rate cuts should the economy continue to deteriorate. The FOMC next meets on March 20.
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akuteste Rhytmusstörungen an den Ami-Börsen ...
WASHINGTON (Reuters) - The Federal Reserve on Wednesday cut key U.S. interest rates by half a percentage point to prevent the flagging economy from falling into a slump and signaled it stood ready to do more if needed.
The move, which was widely expected by financial markets and follows a surprise half-percentage point rate cut earlier this month, takes the bellwether fed funds overnight bank lending rate to 5.5 percent from 6 percent, and erases all the rate increases of 2000.
To underline its determination to keep the record U.S. expansion on track, the powerful central bank also cut the discount rate on direct Fed loans to commercial banks by a half-point to 5.0 percent.
In a statement released after a two-day session of the rate-setting Federal Open Market Committee, the Fed said it still views excessive weakness as the main risk to the U.S. economy, suggesting it remains open to further rate cuts should the economy continue to deteriorate. The FOMC next meets on March 20.
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akuteste Rhytmusstörungen an den Ami-Börsen ...
