Tampa Bay Area Real Estate Blog

Reflections and Information On Tampa Bay Area of Florida Real Estate by Richard & Dixie Sells, Realtors with Future Home Realty. 800-303-4400 Direct

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The market is picking up here in Tampa Bay despite what you hear in the media, We are seeing buyer activity and contracts coming in on our listed properties. If you would like the real market information and how it reflects on the selling of your property, give us a call today. 800-303-4400 Direct 727-815-7800 Direct

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75 Basis Point Cut in Fed Funds Rate From MarketWatch

WASHINGTON (MarketWatch) — Hoping to halt a market meltdown and prevent a recession, the Federal Reserve lowered its overnight lending rate by three quarters of a percentage point to 3.50% on Tuesday in a rare move between formal meetings.
The 75 basis-point surprise cut came after global financial markets sold off in dramatic fashion on Monday on fears that bad bets in credit markets could spread further and drive the U.S. economy into recession.
“The committee took this action in view of a weakening economic outlook and increasing downside risks to growth,” the Federal Open Market Committee said in a statement. (See Federal Reserve press release for full statement)
The Fed also lowered its discount rate by 75 basis points to 4%.

Published Wednesday, January 23, 2008 8:05 AM by Dick and Dixie Sells

Filed under: Real Estate, Market Conditions, Announcements, Finances, Buyer Information, Seller Information, Community Information, Florida

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