The Fed Cut Rates Below 1% Two Weeks Ago

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The Fed Cut Rates Below 1% Two Weeks Ago

By Mark Perry on October 30, 2008 | More Posts By Mark Perry | Author's Website

Fed Statement on Interest Rates: The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 1%.
MP: The Fed cut the federal funds rate to below 1% more than two weeks ago, see chart above of the actual, effective fed funds rate since October 10 (data here), averaging .83% from October 10 to October 27.

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