STAFF BLOG AG RIGHT Taking an interest in interest rates
I once wrote a story that looked, among other things, at how construction of new houses was crippled during the early 1980s by sky-high interest rates. Would-be borrowers faced astronomical monthly pa... Posted on 12/7/12 at 9:31 AM
With the recession dragging down consumer prices and home construction, the Federal Reserve is prepared to slash a key interest rate — perhaps to an all-time low — in a desperate bid to stem the country’s economic slide.
The Treasury Department said it sold $30 billion in four-week bills at an interest rate of zero percent. That meant investors were willing to earn no return at all on their money as long as they could park it in the safety of Treasury securities.
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