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The Political and Financial Markets Commentator

Blog by Michael Haltman
Jericho, New York
The state of politics and the financial markets are discussed with an eye towards the potential impact on us all.

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Headline: Federal Reserve Cuts Rates 50 basis points and more
Posted at The Political and Financial Markets Commentator by Michael Haltman
Oct. 30, 2008
Tagged with: business, charlies angels, economy, fdic, fed, fed meeting, ferrari, goldman sachs, japan, mt everest

Headline: Federal Reserve Cuts Rates 50 basis points and more

Read the entire story at The Political and Financial Markets Commentator at http://politicsandfinance.blogspot.com

Thursday, October 30, 2008

Headline: Federal Reserve Cuts Rates 50 basis points and more

 

The Two Day Fed Meeting Ends With A Cut Of 50bp.


The Fed lowered its' overnight lending rate to 1.00% and the discount rate to 1.25%. Along with this was the statement that downside risk to the economy remains that would seem to leave open the window for further rate cuts. We are chasing Japan which is rumored to be lowering its' key rate to .25%.


This move is somewhat symbolic in nature since actual rates were already trading down around or below this level. In a slow but continuing improvement in LIBOR, the rate on Wednesday was at 3.42% indicating that there is a slow thaw in banks willingness to lend. The TED Spread is at 2.82,up slightly from yesterday.


Help For Homeowners In Trouble On The Horizon?
 

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