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Do you think the Fed did the right thing by lowering interest rates ?
Asked by mirza (5057)
December 11th, 2007
The Federal Reserve just cut the interest rates by a quarter point – lowering it to 4.25 % . The central bank also cut its discount rate, which is what banks pay to borrow directly from the Fed, by a quarter-point to 4.75 percent on Tuesday. Some people speculate that it was due to pressure from the mortgage and housing industry.
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