Fed Slashes Interest Rates to a 0.0% to 0.25% Target Range … But Now What?
December 17, 2008 at 10:13 AM EST
As expected, U.S. Federal Reserve policymakers slashed a benchmark interest rate yesterday (Tuesday). But they cut it by a bigger-than-expected amount, and did so in an unconventional manner. Instead of establishing a new, specific primary interest rate, the central bank’s Federal…