federal reserve

Timeline: The federal funds rate at work

 

1980 Federal Funds Rate 1980 Federal Funds Rate 1984 Federal Funds Rate 2003 Federal Funds Rate 2008 Federal Funds Rate 2012 Federal Funds Rate 2007 Federal Funds Rate 1993 Federal Funds Rate 1981 Federal Funds Rate 1974 Federal Funds Rate

Year: 1980

Rate: Increases to 14 percent

The details: A recession, at the time considered the worst since the Great Depression, grips the nation at the beginning of the year. Under Chairman Paul Volcker, the Fed is determined to quell inflation that has risen to more than 14 percent. It sets the federal funds rate in January at 14 percent, then boosts it as high as 20 percent two separate times during the year.

 

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Holden Lewis

You’re normal if you spend big before a mortgage

If you have sold a house and bought another, or if you have refinanced a mortgage, you probably have ignored a universally given piece of financial advice. And you know what? You're fine. You're perfectly normal. And I'm gonna stop giving that advice. Here's the advice that mortgage lenders and financial pundits, including me, like  ... Read more

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