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BUSINESS: Fed Raises Interest Rates by 1/4 Point

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posted on Nov, 10 2004 @ 11:55 PM
8 days into the second term of President Bush, the Federal Reserve, led by Chairman Alan Greenspan, has increased the interest rate by 1/4 percent in an effort to bring the country out of depression, which worsened after the terrorist attacks and two wars.
Fed policy-makers stuck to their view that future rate increases would be gradual. They said rates could go up at a pace likely to be "measured," retaining language contained in previous statements.

The Fed's current rate-raising campaign began in June with a quarter-point boost, marking the first rate increase in four years. The Fed bumped up rates again by a quarter-point in August and September and then once more on Wednesday.

Please visit the link provided for the complete story.

While increasing the interest rates might be good news for the government, even though it is bad news of the consumers, it is also bad news for inflation, which the Federal reserve board says is under control, in midst of high oil prices.

[edit on 11-11-2004 by Zion Mainframe]

posted on Nov, 11 2004 @ 08:54 AM
wouldn't raising interest rates cause people to stop taking out loans. this should mean less money in circulation, and make the economy worse. i thought if you wanted to pull out of a recession you lowered interest rates. i could be totally wrong, this really not my field of expertise.

posted on Nov, 11 2004 @ 09:52 AM
you people need to lay off the hard drugs.

The country is not in a recession, much less a depression.

Growth is solid, and the already historically low rates need to be boosted to prevent inflation from heating up.

That is the FEDS Mandate.

These are unassailable facts.


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