DJI: Fed Cuts Rates

Fed Cuts Rates

A Historic day saw the Fed slash the key federal funds target rate to between 0.00% and 0.25% driving the markets to an almost 350 point gain and leading a rally for financial. With the fed basically putting the cost of capital at 0 banks are taking advantage."The cut in the federal funds rate pushes it to its lowest level on records dating to July 1954, and the central bank said it would likely keep it at "exceptionally low levels for some time."

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