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[Breaking] Fed cuts rates, but card issuers unlikely to follow suit

Posted by tylerdee 1304 days ago (http://www.creditcards.com)
Category: Economy | Tags: fed cuts rates half point rate cut
In an effort to revive a battered economy, the Fed cut its benchmark rate by half a percentage point. Committee members voted unanimously on Wednesday to drop the federal funds rate from 1.5 percent to 1 percent, equalling the rate's all-time record low.
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