Variable Rate Credit Cards Expected to Fall in Light of Recent Fed Rate Cuts

Posted On: January 29, 2008

By Jessica Austin, CardRatings.com Public Relations Associate

The Federal Open Market Committee cut short term interest rates again today by one half of a percentage point to 3.0%. The Fed’s rate cut was in response to the economy’s current financial state.
According to the Fed, “The Committee took this action in view of a weakening of the [...]