Helicopter Ben Strikes again: Cuts Fed Funds Rate 0.50-Pt To 3%; Econ Risks Remain

The Federal Reserve lowered its key lending rate by 1/2 bps, following their inter-meeting emergency 3/4 bps cut. This represents a historic eight-day period in which officials have slashed rates more aggressively than any time in their history, to avoid or stop a recession. The Fed signaled they would ease further, even though the economy continued to grow - but they also suggested that the cumulative 225 basis points in policy easing over the past four months may be enough to keep the economy on track.

 

 

 

 

More Headlines

Buffett sees signs recession getting worse - says inflation is a worry. Billionaire Warren Buffett has already said he thinks the U.S. economy is in a recession, and now he says the economy is getting worse.  More

Fed Leaves Rates Unchanged; Sees Greater Inflation Risk. Federal Reserve holds key interest rate at 2%, leaving it unchanged for the first time since last summer.  More

WSProfit Bear Super-Cycle News. -UPDATED- A Litany of Bear News Bullets.  More

Royal Bank of Scotland (RBC) – issues a global stock and credit alert Royal Bank of Scotland (RBC) – issues a global stock and credit alert.  More

DOW Jones Industrial Average Drops -315.79 points, 3.02 percent to End the Week. DOW Jones Industrial Average Drops -315.79 points, 3.02 percent to End the Week, Caping a 4th Straight Monthly Decline.  More

The Anatomy of a Credit Crisis (2000-2008 and Beyond) A brief outline of the major events which led to the current state of affairs.  More

The President Signs the Stimulus Package and Asks Us to Spend Borrowed Money. Most taxpayers will receive a check of up to $600 for individuals and $1,200 for couples, with an additional $300 for each child.  More