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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (87946)1/4/2001 7:20:46 PM
From: Don Lloyd  Read Replies (1) of 132070
 
MB -

The discount rate is different from the Fed Funds rate, so it isn't another cut. It is a new cut. But it does show that AG is serious about curing the unbalanced conditions in the economy by making them much more unbalanced.

This cut was already implied by yesterday's intraday move. For some reason, they needed an actual request from a bank to lower this rate that much and presumably got it today.

Regards, Don
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