Ability Mortgage

Update on Federal Reserve Rate Cut

Fed governor says interest rates should stay put The Federal Reserve cut interest rates in September and October to manage the macroeconomic "tail risks" posed by the slowdown in housing and disruption of financial markets.But the downside risk to economic growth now appears to be roughly balanced by the upside risk to inflation, Federal Reserve Governor Randall Kroszner told attendees at a financial conference in New York today.Kroszner said his remarks were his own, and do not necessarily r... READ MORE Posted November 17, 2007 at 03:24 PM