Mises Daily
Author:
Frank Shostak
Online Publish Date:
On Tuesday, December 16, 2008 the Federal Open Market Committee ( FOMC ) lowered the federal-funds-rate target from 1% to between 0.25% and 0%. According to the FOMC statement, The Committee anticipates that weak economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time. Another main reason behind