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Federal Reserve chairman Ben Bernanke said that economic activity has downshifted further and the policy response must be vigorous. He said cutting the Fed funds target rate below 1% is "certainly feasible", but broader action could be more efficient. "At this point, the scope for using...
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It is widely expected that the Federal Reserve will cut the Fed funds rate by 50 basis points to 1.00% on Wednesday, the lowest level since June 2004. Fed watchers expect the vote to be unanimous and the accompanying statement to echo the "wait-and-see" approach seen in previous months. The...
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Federal Reserve Chairman Ben Bernanke has no plans to raise interest rates and is more concerned about growth than inflation, a Washington Post op-ed reported on Monday. Citing "sources close to" Bernanke, columnist Robert Novak said the Fed chairman sees high energy prices as a threat to growth, not...
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In a nearly unprecedented move the Federal Reserve early Tuesday cut the Federal discount rate by .75 of a point, the largest single rate cut in 20 years. The move did not come at one of the Fed's regularly scheduled meetings but rather overnight in response to some truly dreadful news from foreign stock...
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The headlines read " Chairman Bernanke Says Fed Ready to Cut Interest Rates as Needed." Well, not exactly. What Federal Reserve Chairman Ben Bernanke actually said, in remarks on Thursday was "We stand ready to take substantive additional action as needed to support growth and to provide adequate insurance...
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The Federal Reserve slashed benchmark interest rates by a half point in an agressive move to prevent the economy from moving into recession and to ease the pains of the housing bubble. The decision to cut the overnight federal funds rate from 5.25% to 4.75% was unanimous. This is the lowest level since...