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- Fed Cuts Rate to 2%, Signals Pause
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FOMC statement: The Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 2 percent. Recent information indicates that economic activity remains weak. Household and business spending has been subdued and labor markets have softened further. Financial markets remain under considerable stress, and tight credit conditions and the deepening housing contraction are likely to weigh on economic growth over the next few quarters….
Original Source: feeds.feedburner.com/CalculatedRisk
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30 April, 2008| housingblogs |
@ 19:21