Banking, finance, and taxes
FOMC Enters Realm of 0% Interest Rates
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The FOMC voted, and the Fed Funds Rate has now been given a TARGET RANGE of 0% to 0.25%.
The Discount Rate was cut 0.75% and is now at 0.50%.
Some of the statements are as follows:
A link to the text of the FOMC statement is here.
The dollar just tanked on this news against foreign currencies.
The 10-Year is now yielding 2.43% and the 30-year Treasury yield came in to a low yield of 2.88% right after the news.
Jon C. Ogg
December 16, 2008
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