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"Interest Rates Defy Fed's Recent Cuts" Writes The Wall Street Journal
Nov 06 07
"Interest Rates Defy Fed's Recent Cuts" Writes The Wall Street Journal. The article says rates haven't fallen along with the Fed's 75 basis points in rate cuts so far. "That's fine with savers. Average yields on money-market mutual funds, for example, whose yields typically move in line with changes in the Fed funds rate, are hovering at 4.76%, compared with 5.06% in mid-September -- roughly half the amount they'd be expected to drop, says Peter Crane of Crane Data LLC".
