Despite 1.5% Target, Fed Fund Rate Is Below 1%
Since the FOMC cut its target Fed Funds rate to 1.50% two weeks ago on October 10, the average actual Fed Funds rate has actually been below 1% (.92%), and has been below .80% over the last week.CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Friday, October 24, 2008
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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1 Comments:
Because they're NOT targeting the Fed funds rate! That should be obvious. The 3 month bill keeps hitting zero.
They're playing the quantitative easing game that Japan did in the 90s.
This is how well that worked. See Mish's full post
Btw his blog is in the top 5 most read economics/finance blogs on the web.
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