Posted by Dennis D Broadbooks on 1/10/08 11:53am
Msg #229981

Bernanke Ready to Act

Chair: Fed Ready to Cut Interest Rates

Jan 10 12:19 PM US/Eastern

WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke pledged Thursday to slash interest rates yet again to prevent housing and credit problems from plunging the country into a recession.

The Fed chief made clear the central bank was prepared to act aggressively to rescue a weakening economy. "We stand ready to take substantive additional action as needed to support growth and to provide adequate insurance against downside risks," he said.

http://www.breitbart.com/article.php?id=D8U358CG0&show_article=1

Reply by CF on 1/10/08 1:06pm
Msg #229996

Well, I hope that this time the savings will be passed on to the consumer. The rates did not seem to go down with the previous cuts- just another way for the lenders to make more $$$$. I could sure use a 30 year fixed at 5%!!!!! (had that- but sold) We can all benefit is they make the cut big/low enough!!!!!! Not everyone is upside down!