The US Federal Reserve is set to cut American interest rates today, as the US Federal Reserve Bank’s Open Market Committee FOMC meets today.
How much will they cut the Fed’s benchmark interest rate?
Analysts predict a cut of 25 basis points from the current rate of 5.25 percent to 5 percent.
Get the latest news about
Footnotes. 1. As of March 1, 2016, the daily effective federal funds rate (EFFR) is a volume-weighted median of transaction-level data collected from depository institutions in the Report of Selected Money Market Rates (FR 2420). View data of the Effective Federal Funds Rate, or the interest rate depository institutions charge each other for overnight loans of funds. The Reserve raised s on Wednesday, a move that was widely expected but still marked a milestone in the U.S. central bank's shift from policies used to battle the 2007-2009 Tags: federal, reserve, boosts, interest, Federal Reserve bumps up interest The central bank boosted s to a range of 1.75 percent to 2 percent Wednesday, a move likely to lead to a slight increase in mortgage, credit card, auto loan and small-business loan s. The Reserve on Wednesday lifted its key from 1.5 percent to 1.75 percent, the highest level since 2008. The move, the central bank's first major decision under new Chairman