Interest Rates Reduced Today, As Expected
In a move that was expected by most financial analysts, the Fed did end up cutting key interest rates down another quarter of a point today, down to 4.25, in an effort to keep the United States out of a recession and help the ever-worsening mortgage, housing and credit crisis. This was a move that was anticipated though, as Bernanke himself did not rule out another rate cut.
However, some are disappointed that there was not more of a cut than a quarter point, and feel more drastic measures were needed to pull us out of the quagmire we’ve recently found ourselves in. The stockmarket did not react well on the news, and did take a bit of a fall, but we all know it always comes back up - at some point….
