Industry News

Fed slashes target rate to 3.5%

Surprise move aims to stave off recession
Published on Jan 22, 2008

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by CareyBot

The Federal Open Market Committee today lowered its target for the federal funds rate 75 basis points to 3.5 percent — the steepest cut since 1984 — in an attempt to prevent a market meltdown and recession. The Fed took ...

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