EFFORTS TO UNFREEZE MARKETS CONTINUE

The Federal Reserve and Treasury Department today announced $800 billion in credit and mortgage programs intended to keep the country from slipping further into recession. Through its consumer debt program, the Fed will lend up to $200 billion to the holders of...

FEDS CUT FUNDS RATE TO 3 PERCENT

The Federal Reserve earlier this week cut a key interest rate for the second time in just over a week, reducing the fed funds rate by a half point. The Fed action pushed the funds rate to 3 percent. In a brief statement explaining their decision, Fed Chairman Ben...

FED CUTS KEY INTEREST RATE

The Federal Reserve Board’s Federal Open Market Committee cut its short-term interest rate by a half of a percentage point today to 4.75 percent. According to the committee, the tightening of credit conditions has the potential to intensify the housing correction and...