US slashes interest rates to 2.25%
Free email from MoneyWeek
Money
Morning is the FREE daily email from MoneyWeek – a punchy round-up
of the latest investment news and profit opportunities. DON’T MISS
IT!
This genius investor does dizzying levels of research to uncover...Half Price Shares!
The US Federal Reserve has slashed the country's overnight lending rate by three quarters of percentage point to 2.25% in an attempt to alleviate the crisis besetting the country's banking system.
"Today's policy action, combined with those taken earlier, including measures to foster market liquidity, should help to promote moderate growth over time and to mitigate the risks to economic activity,'' the Federal Open Market Committee said in a statement.
(Article continues below)Advertisement
The Fed Board of Governors also voted to lower the discount rate, the cost of direct loans to banks from the central bank, to 2.5% just two days after it was cut to 3%.
FREE! For all our latest advice on making profitable investments, claim your 3-week FREE trial of the MoneyWeek website and magazine now.
Money Morning is the FREE daily email from MoneyWeek
– a punchy round-up of the latest investment news and profit opportunities.
DON’T MISS IT!
