The Fed cut rates by quarter point Tuesday December 11th

by December 12, 2007 • 0 comments

In a highly anticipated move, The Fed cut interest rates Tuesday by a quarter point.  The only problem was that the anticipation was for a half point and the market was let down as evidenced by the Dow’s plunge of 300 points.

It is down from 4.5 to 4.25%.  The Fed hopes to ward off a recession and give the economy a boost in light of the housing slump and industry mortgage troubles.

Bernanke left the door open for another rate cut during Q1 2008 if need be.

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