Intrest rate cut by 0.75 % !!!

[George]

Release Date: March 18, 2008
For immediate release

The Federal Open Market Committee decided today to lower its target for the federal funds rate 75 basis points to 2-1/4 percent.


http://www.federalreserve.gov/newsevents/press/monetary/20080318a.htm

Oh my ... :shocked

Wave bye bye to the dollar ! :doh

[SummerSailing81]

Well, that means that the piddly little amount of interest we were getting for our savings account will go to basically nothing. It's not even worth keeping it there anymore.

[dramama]

Well, that means that the piddly little amount of interest we were getting for our savings account will go to basically nothing. It's not even worth keeping it there anymore.

that's right, and if there is ever a run on the banks it's probably a good idea not to have loads of it sitting there doing nothing and then not being able to get it out when things go south(er)....what a pickle we are in.....:ohno

[lovinlife4]

my hubby and i read an article saying it does nothing for the average person, only for big business...what's that saying? The rich just get richer:ohno

[Biblenuggetlady]

If they lower the rate any lower, they'll be giving money away. :doh I heard also that the rate cut would not be felt by the general population for months. :scratch It sure boosted confidence though, the DOW is down 200.