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JAFed Lowers Rate Again
March 18, 2008
The Federal Reserve Board again dropped the prime lending rate to banks by another 3/4ths of a point in the hopes of easing the mounting pressures on banks and finanacial institutions. The cut was lower than the expected full percentage point that some had hoped for. In response, the FED stated that inflation is a concern of the lending rate is lowered any further. The move took the rate down to 2.25 percent, the lowest since February 2005.
