EN
CN
JARecession? Who Knows?
January 22, 2008
The day after the Martin Luther King Jr. Holiday, the Federal Reserve board cut interest rates on prime lending once again, in the hopes of easing stock jitters. Markets around the world continued downward yesterday on mounting fears that US economy is headed toward recession. The Fed controls two key economic benchmarks. The discount rate, which is the rate that banks can borrow from the government, is around 4% and the Federal Funds rate, which influence credit card debt and home equity.
