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Tuesday, December 16, 2008

Fed Lowers Federal Funds Rate!

"The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent." In addition, the statement says " ...the Committee anticipates that weak economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time."

Have they ever announced a "target range"?

Read the press release here: Dec 16, 2008 press release

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