FOMC Cuts Target by 25 Bps to 2.00%, Says Economic Activity “Remains Weak”
The Federal Reserve announced Wednesday that it cut
the Fed funds target rate by 25 basis points to bring
the key interest rate to 2.00%. The discount rate was also cut by 25
basis points to 2.25%.
In an accompanying statement, the Fed
said “substantial” easing should promote growth, but that economic
growth “remains weak.”
The Fed said credit and housing will…
Original post by Darin