[Pen-l] the Fed hits bottom

To: Pen-l <pen-l@xxxxxxxxxxxxxxxxxx>
Subject: [Pen-l] the Fed hits bottom
From: "Jim Devine" <jdevine03@xxxxxxxxx>
Date: Tue, 16 Dec 2008 11:57:18 -0800
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Breaking News Alert
The New York Times
Tuesday, December 16, 2008 -- 2:27 PM ET
-----

Fed Sets Record Low Range for Benchmark Interest Rate

The Federal Reserve entered a new era on Tuesday, reducing
its benchmark interest rate so low that it will have to reach
for new and untested tools in fighting both the recession and
downward pressure on consumer prices. The central bank
lowered its target for the overnight federal funds rate to a
range of 0 to 0.25 percent, a record low, virtually bringing
the United States to the zero-rate policies that Japan used
for six years in its own fight against deflation.
-- 
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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Thread context:
- Re: [Pen-l] deflation??, (continued)
- [Pen-l] Car, home buyers could benefit from Fed rate cut, Charles Brown Wed 17 Dec 2008, 15:27 GMT
- [Pen-l] For consumers, little help from bank rate cut, Charles Brown Wed 17 Dec 2008, 14:31 GMT
- [Pen-l] Ultra-low US rates undermine repo market, Jayson Funke Wed 17 Dec 2008, 00:09 GMT
- [Pen-l] the Fed hits bottom, Jim Devine Tue 16 Dec 2008, 19:32 GMT
- [Pen-l] Hunger, Louis Proyect Tue 16 Dec 2008, 18:36 GMT
  - <Possible follow-up(s)>
  - [Pen-l] Hunger, McDonough, Terrence Thu 18 Dec 2008, 02:52 GMT
    - Message not available
      
      Re: [Pen-l] Hunger, Louis Proyect Thu 18 Dec 2008, 02:59 GMT
      
      Re: [Pen-l] Hunger, Doyle Saylor Thu 18 Dec 2008, 16:07 GMT

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