Wednesday, October 29, 2008

The Blanchflower Formula

Federal Reserve slashes US rates to 1%

The Federal Reserve acted last night to stave off a severe US recession, cutting American interest rates to 1 per cent, matching the lowest levels of recent decades and paving the way for further cuts to unprecedented lows ... Pressure on the Bank of England to take aggressive action was ratcheted up by David Blanchflower, an external member of its rate-setting Monetary Policy Committee.

Posted by quiet guy @ 11:04 PM (1047 views)
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4 thoughts on “The Blanchflower Formula

  • The US is going to 0%.

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  • planning4acrash says:

    Considering that it is widely agreed that Greenspan’s move to 1% caused this mess, well, it seems that the Fed has decided that the current mess isn’t big enough.

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  • Affordablehousing says:

    Nothing like droping the base rate just before an election, they are doing what they can to help mccann get elected. some just can’t see it!

    Watch a pre X – mas cut here in the UK so that less of a wage increase is demanded.

    ‘Pressure’ on the BOE MPC to cut rates, Ha…… G Brown just TELLS M King what the rate will be.
    Their independance is just another liebour lie.

    YANKS… why bother lending your money to the banks for one %. just stick it in a safe deposit box and tell the banks to ‘sit on your middle finger and twist’.
    Why is everyone assuming people will still invest their money in bank savings accounts.
    Some will invest in a higher interest rate elsewhere.

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  • So who gets to borrow at 1% ?

    Anybody know the answer ?

    This isn’t going to make any difference either way.

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