Archive for November, 2007

Last 25 basis points cut for 2007 amid soaring oil price

As expected the Federal Reserve executed the second rate reduction by one-quarter percentage point or 25 basis points to 4.50 percent on Wednesday. Ben Bernanke has cut 50 basis points from 5.25% to 4.75% earlier in September. The 9-1 decision to cut rates on Wednesday was opposed by Thomas Hoenig, president of the Federal Reserve […]

... written on Nov 01 2007

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