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Fed Funds rate cut 3/4%

Discussion in 'Money & Finance Forum' started by Hard Harry, Mar 18, 2008.

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  1. Mar 18, 2008 at 3:10 PM #1
    Hard Harry

    Hard Harry Sometimes Functional INTP

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    Fed Slashes Rates by Three-Quarter Points-
    With recession fears growing, the Federal Reserve slashed the federal funds rate by three-quarters of a point. Most investors expected a full-point reduction. Today’s cut comes on the heels of the Bear Stearns bailout and U.S. Treasury Secretary Henry Paulson saying the U.S. economy is in "sharp decline." Details coming…... » read more
     
  2. Mar 18, 2008 at 3:16 PM #2
    kickazzz2000

    kickazzz2000 CURRENTLY ON THE CAN

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    How much of an effect will this have on mortgage rates, if any? I want to refi.
     
  3. Mar 18, 2008 at 3:24 PM #3
    Trace

    Trace Full Access Member

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    I think Prime dropped to 5 1/4.
     
  4. Mar 18, 2008 at 3:31 PM #4
    chipshotx

    chipshotx Full Access Member

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    Question...Was Bear Stearns bailed out or bought out? I figured bailouts referred to govt intervention. I thought that was beind duscussed but they were bought out by JPM.
     
  5. Mar 18, 2008 at 4:04 PM #5
    meatpile

    meatpile 7-9

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    Bear was bought, but all of Bear's questionable assets were going to be backed by the fed.

    I'm pretty sure. So - if the fed hadn't backed it, I think Bear would've gone under.
     
  6. Mar 18, 2008 at 4:06 PM #6
    Hard Harry

    Hard Harry Sometimes Functional INTP

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    I've been told to track the 10 year Treasury for mortgage rates, and that it will probably drop drastically in the next 24-48 hours.

    I am not an investment guy, but I did have lunch with one once.
     
  7. Mar 18, 2008 at 4:11 PM #7
    kickazzz2000

    kickazzz2000 CURRENTLY ON THE CAN

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    Did you stay at a Holiday Inn Express too?
     
  8. Mar 18, 2008 at 4:51 PM #8
    Freakshow

    Freakshow Fuck you guys.

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    Rates went up today.
     
  9. Mar 18, 2008 at 11:04 PM #9
    QueenCityHillbilly

    QueenCityHillbilly Bitch, I Will Kill You

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    Dammit!
     
  10. Mar 19, 2008 at 8:12 AM #10
    Freakshow

    Freakshow Fuck you guys.

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    They basically went down a bit on Monday and bounced back to where they'd been. Nothing drastic!
     
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