For the third time in three months, the Federal Reserve cut the federal funds rate. The rate was cut by a quarter point to 4.25%. The Feds also reduced its discount rate by a quarter-point as well to 4.75 percent. The discount rate is the interest the Feds charge to make direct loans to banks.
Tuesday, December 11, 2007
Feds Cut Fund Rate - Again
For the third time in three months, the Federal Reserve cut the federal funds rate. The rate was cut by a quarter point to 4.25%. The Feds also reduced its discount rate by a quarter-point as well to 4.75 percent. The discount rate is the interest the Feds charge to make direct loans to banks.
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