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January 22, 2008

Federal Reserve Slashes Rate to 3.5%

Federal Rate Cut

Amidst concerns about a recession and a global plunge in stock markets, the Federal Reserve made a drastic reduction in the federal funds rate of .75 of a point, from 4.25% down to 3.5%. It marks the single largest reduction in about 20 years and the fourth consecutive reduction of the federal funds rate dating from September 18th of last year.

So as a potential borrower, what does the Fed's rate cut mean for you? Read more from our article, Understanding the September 2007 Federal Rate Cut.

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