To the Point
Fed Moves to Cut the Discount Rate, Lifts Stocks
With the sub-prime lending crisis rocking financial markets, the Federal Reserve today c ut the so-called "discount rate" by half a percentage point to 5.75%. The Dow Jones , Nasdaq and Standard & Poor's 500 went up. Peter Coy is economics editor for BusinessWeek magazine.
By Warren Olney • • 1 min readWith the sub-prime lending crisis rocking financial markets, the Federal Reserve today cut the so-called "discount rate" by half a percentage point to 5.75%. The Dow Jones, Nasdaq and Standard & Poor's 500 went up. Peter Coy is economics editor for BusinessWeek magazine.
