commissioner.org
| Source | Jim Devine |
| Date | 08/12/16/12:41 |
| Breaking News Alert
The New York Times Tuesday, December 16, 2008 ----- 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. |
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