Fed Cuts Key Rate By One-Quarter of a Point: Credit Card Users Will Likely Benefit
Posted On: May 2, 2008
By Jessica Austin, CardRatings.com Public Relations Associate
The Fed announced a 25 basis point rate cut, bringing a key rate to 2.00 percent. The prime rate will also fall one-quarter of a percentage point to 5.00 percent. The move by the Federal Open Market Committee followed several rate cuts in the first quarter of 2008 that [...]
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StumbleUponFed Cuts Key Rate By Three-Quarters of a Point: Credit Card Users Will Likely Benefit
Posted On: March 25, 2008
By Jessica Austin, CardRatings.com Public Relations Associate
The Fed announced a 75 basis point rate cut, bringing a key rate to 2.25 percent. The prime rate will fall three-quarters of a percentage point, also, to 5.25 percent. The move by the Federal Open Market Committee followed a half-percent rate cut Jan. 30 and brought the [...]
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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 [...]
