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Discount Rate Cut Signals Sliding Economy Edge
The Federal Reserve lowered the discount rate from 9 percent to 8.5 percent effective immediately, the seventh half point cut since mid July, marking the lowest level since Nov. 1, 1978. Economists note lower rates as key to recovery while markets reacted with higher bond prices and lower Treasury yields.
MENTIONED IN THIS ARTICLE
White House
Federal Reserve Board
Central Bank
Martin Feldstein
Reagan
Council of Economic Advisers
National Press Club
Fed
Federal Reserve
New York Stock Exchange
Treasury
U.S
Commerce Department