RATE CUTS ACROSS THE WORLD

This saves everyone with an adjustable rate mortgage, credit cards and line of credit on a monthly basis. This is better than a tax rebate. Between these types of actions and lower gas prices, the consumer can step up and help us through this mess...Jeff Cameron


Fed Orders Emergency Interest Rate Cut
posted: 13 MINUTES AGOcomments: 493
filed under: Financial Crisis
Acting in concert with central banks around the globe, the Federal Reserve says it is slashing its key interest rate by a half-point to 1.50 percent. The move continues a string of aggressive actions by Ben Bernanke and the Fed to cope with the worst financial crisis since the 1929 stock market crash. On Tuesday, the Fed said that it would buy massive amounts of "commercial paper" -- a short-term financing option many firms rely on to fund day-to-day operations.

Read the full article here: http://money.aol.com/news/articles/_a/bbdp/fed-orders-emergency-interest-rate-cut/204500