{"id":1525,"date":"2008-01-22T21:39:34","date_gmt":"2008-01-22T13:39:34","guid":{"rendered":"http:\/\/maddruid.com\/?p=1525"},"modified":"2009-03-13T17:27:38","modified_gmt":"2009-03-13T09:27:38","slug":"1520-of-bernanke-is-serious","status":"publish","type":"post","link":"https:\/\/maddruid.com\/?p=1525","title":{"rendered":"[1520] Of Bernanke is serious"},"content":{"rendered":"<p>75 basis points cut.<\/p>\n<blockquote><p>WASHINGTON (AP) \u2014 The Federal Reserve, confronted with a global stock sell-off fanned by increased fears of a recession, cut a key interest rate by three-quarters of a percentage point on Tuesday.<\/p>\n<p>The Fed said it was cutting the federal funds rate, the interest that banks charge each other on overnight loans, to 3.5 percent, down by three-fourths of a percentage point from 4.25 percent.<\/p>\n<p>The Fed action was the most dramatic signal it can send that it is concerned about a potential recession in the United States. It marked the biggest one-day move by the central bank in recent memory. [<a href=\"http:\/\/ap.google.com\/article\/ALeqM5h8KpyRBjeJw2gfbZZF3Kt4NfKeDAD8UAUV5O0\" target=\"_blank\"><em>Fed Cuts Interest Rate<\/em><\/a>. AP via Google News. January 22 2008]<\/p><\/blockquote>\n<p>Definitely a more effective move than a <a href=\"https:\/\/maddruid.com\/?p=1524\">one-time tax cut<\/a>.<\/p>\n<p>And thinking back, I remember somebody <a href=\"http:\/\/knzn.blogspot.com\/2007\/09\/175-basis-points.html\" target=\"_blank\">asked for a 175 basis points cut<\/a> back in September 2007. Well, he just got it in about 4 months.<\/p>\n<p>Finally, I think, the Fed is the world central bank.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>75 basis points cut. WASHINGTON (AP) \u2014 The Federal Reserve, confronted with a global stock sell-off fanned by increased fears of a recession, cut a key interest rate by three-quarters of a percentage point on Tuesday. The Fed said it was cutting the federal funds rate, the interest that banks charge each other on overnight [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[317],"class_list":["post-1525","post","type-post","status-publish","format-standard","hentry","category-economics","tag-monetary-policy"],"_links":{"self":[{"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/posts\/1525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/maddruid.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1525"}],"version-history":[{"count":1,"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/posts\/1525\/revisions"}],"predecessor-version":[{"id":3016,"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/posts\/1525\/revisions\/3016"}],"wp:attachment":[{"href":"https:\/\/maddruid.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/maddruid.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/maddruid.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}