Tuesday, Jan 22, 2008
Desperation stakes.
BBC: Fed cuts interest rates to 3.5%
The Federal Reserve has cut US interest rates to 3.5%, a shock three-quarters of a percentage point reduction
Posted by holding out @ 01:09 PM (882 views) Add Comment
9 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Landedgentry said...
Dont panic - the outlook is still bleak.
2. mark said...
just goes to show how bad things are in the states, I really think they are in recession now and have been for a while, they just wont admit it....
3. drewster said...
Goodbye dollar, it was nice knowing you.
4. hpwatcher said...
that guy, like all the others, is a one trick pony.
recession here we come!!
5. alan said...
I think it's good news. For so long the US has been in denial of it's problems.
Will the cuts work? The subject of how long an IR reduction takes to work through has been long debated here. The key point is that some one has put their hand up to recognise the problem and has done something very significant.... other than tinker.....
Hopefully Mervyn will not be rushed into an immediate response.
6. bystander said...
Where does this leave Trichet and the ECB. I feel this will be the button to push him into cutting as well and letting the euro join the race to the bottom.
7. Rimmer said...
If only it were that easy, now all investment will flood out of the US and with the Balance of trade in the US nearly as bad as the UK it may well make things far worse, when dealing with fire its sometimes best to let it burn itself out
8. mrmickey said...
Tut tut Mr Bernanke, bailing your buddies out on Wall Street again.
9. it_is_going_with_a_bang said...
I bet Bush was on the Batphone all night reminding everyone concerned that it is an election year.
Inflation - what inflation! Just set the rates at whatever rate you like! Forget the policies and strategies!
Forget the currency! Just get me through this week with my job intact!