Wednesday, April 30, 2008

Feds lower its key interest rate by 1/4%

The Federal Open Market Committee cut the federal funds rate by 25 basis points It now stands at 2%. The last time it was at this level was 2004*.

To read the press release: Federal Reserve Board Press Release

What is the Fed funds rate? Read here

*To see what has happened to the Fed funds rate since 1990, go here

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