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Fed Cuts Rate Half-Point to 1%

1% is lowest mark since 2004 as Bernanke tries to combat slowdown

By Kevin Spak, Newser Staff

Posted Oct 29, 2008 1:29 PM CDT

(Newser) – The Federal Reserve surprised no one today, cutting interest rates by half a point, to 1%—as investors widely predicted he would, AP reports. “The pace of economic activity appears to have slowed markedly, owing importantly to a decline in consumer expenditures,” the... Read full story »

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(NEWSER) - Tomorrow the Federal Reserve will probably cut its target interest rate to 0.5%, the lowest in decades. But, the Wall Street Journal reports, investors are unlikely to be cheered by a further slash, instead waiting to hear what further measures Fed chief Ben Bernanke is preparing now that interest rate cuts have essentially stopped working. More»

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Fed Cuts Rate Half-Point to 1%

1% is lowest mark since 2004 as Bernanke tries to combat slowdown

Ben Bernanke • Federal Reserve • federal funds rate • interest rate cut • financial crisis

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More Newser Stories

Fed Cuts Rate to 0%-0.25%

Target is record low as Reserve battles recession

Record Low Rates Leave Investors Cold

Cut is likely tomorrow, but Wall Street wants more varied approach

'Race to Zero' Under Way as Central Banks Cut Rates

With Fed at 1% and European, Asian banks trimming, no-interest loans not far off, perhaps

Think 1% Is Low? He Could Go to Zero

Analysts predict Japan-style cuts in interest rates

Poor Day Ends Horrible Week

Dow off 312, but bears show some restraint

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