Fed Slashes Interest Rate!
The Fed slashed the interested rate used to lending to banks to 1 percent on Wednesday. Just this month alone the interest rate has been cut by a full 1 percent. The interest rate hasn’t been this low in five years. The interest has never been as lower since 1958. So we’re pretty close to seeing history if there’s another interest rate drop. The man in charge is Federal Reserve Chairman Ben Bernanke. I was reading that he and his colleagues stated that they would “monitor economic and financial developments carefully and will act as needed to promote sustainable economic growth and price stability.” And I believe he will do as he stated. This cut is showing that the markets at close to the bottom and are ready to come up. Look what happen when the rate was reduced, the Dow dropped? But now it’s on its way back up, and could stay up for the next few days. Who knows, the bottom could have been reached and now it’s on the rise. I sure hope so, I done with it being down.
