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| Topic: |
Business
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| Number of pages / Number of words: |
4 / 862 |
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“It is going to take some educational effort to elaborate on how these policy options would work†because “people don’t know how to interpret what they are talking about.â€
The FOMC, which first started targeting the federal funds rate in the late 1980s, has lowered its benchmark by 4.25 percentage points since September last year...
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The last time it cut the rate to 1 percent, in 2003, the U.S. had already pulled out of a recession. This time, the central bank sees at least another half-year of economic contraction.
It’s unclear how specific the Fed will be in today’s statement in outlining options after exhausting rate cuts...
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