U.S. Economy
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Title: U.S. Economy

Essay Details:

Subject: Business
Author: Mike M
Date: September 17, 2014
Level: University
Grade: A
Length: 3 / 669

Essay text:

Last Tuesday, January 22, the Dow Jones industrial average fell almost 600 points and was already down 9% in 2008 (Gross 1). Immediately the Federal Reserve took action and cut the interest rates three-quarters of a percentage point, the biggest cut in 24 years. Today, not even a week later, the Fed again cut interest rates, this time by a half-point (Aversa 1). This move is an effort to keep the economy out of a recession by getting money back into the banks and encouraging them to keep lending credit to turn the economy upward. Whether or not it will work remains to be seen in the coming months...

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