federal_reserve

Fed Delivers Expected Rate Cut to 3%, Gold Soars

by CoinNews.net on January 30, 2008 · 1 comment

The Federal Reserve sliced interest rates by a half-percentage point Wednesday, another significant cut that follows on the heels of the emergency three-quarter percentage point reduction just eight days ago on Jan. 22. The federal fund rate, an overnight bank lending rate that affects how much interest consumers pay on credit cards, home equity lines […]

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Gold Surges … New Record, Once Again

by CoinNews.net on January 10, 2008 · 1 comment

Day, after day, after day, after day … and so on. Gold continues to surge past the previous day’s record highs. It hit $897.30 on the New York Mercantile Exchange (NYMEX), which was higher than the record of $894.40 on Wednesday. Gold was helped today after Federal Reserve Chairman Ben Bernanke indicated more interest rate […]

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