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Politics : Formerly About Advanced Micro Devices

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To: Duncan Baird who started this subject	1/4/2001 9:42:55 PM
From: tejek	Read Replies (1) of 1573216

More Fed news! Fed Pushes Discount Rate Down Another Quarter By Justin Lahart Associate Editor 1/4/01 5:41 PM ET The Federal Reserve's Board of Governors Thursday cut the discount rate -- the rate the Fed charges member banks on short-term loans -- by a further quarter-point to 5.5%. The FOMC already put through a quarter-point cut in the discount rate yesterday along with its half-point cut, to 6%, in the more closely watched fed funds target rate. In its statement yesterday, the Fed had indicated that it stood "ready to approve a further reduction of 25 basis points in the discount rate to 5-1/2% on the requests of Federal Reserve Banks." The discount rate is typically kept about a half point below the funds rate.

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