Wednesday, April 30th, 2008
ECONOMY MADE PERFECTER: What is wrong with the Federal Reserve?! Today they cut the fed funds rate another .25%, bringing it down to 2%. Don’t they know that we have already achieved perfection and our economy is growing licketysplit? Meh, whatever. Let’s run with it and REFI REFI REFI! [NYT]
ECONOMY MADE PERFECTER: What is wrong with the Federal Reserve?! Today they cut the fed funds rate another .25%, bringing it down to 2%. Don’t they know that we have already achieved perfection and our economy is growing licketysplit? Meh, whatever. Let’s run with it and REFI REFI REFI! [NYT]
The Federal Reserve cut the federal funds rate — “the” rate — by half of a percentage point today to 3%, a week after they freaked out and cut it by three-quarters of a point. Ben Bernanke and his minions indicated there may be more rate cuts on the way, too. Hooray! Eventually they can get that bitch down to 1%, then we can all buy mansions with $5 down payments and deal with the damn adjustable interest later. Because we’re all getting mansions! [
This recession scare, it’s real. Too real! The Federal Reserve, much to Ron Paul’s dismay, lowered the fed funds rate by 3/4 of a percentage point today to stave off a, hrm, bank panic of neo-Victorian proportion! 