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: 2003

Rate: Decreases to 1 percent

The details: Following two years when 2 million people lose their jobs, the manufacturing, construction and technology sectors are leading an economic recovery. The Fed cuts the federal funds rate to 1 percent in June, and growth accelerates during the second half of the year at the fastest pace in nearly two decades.

 

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Claes Bell

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See this week's average rates for the 30-year fixed-rate mortgage, 15-year fixed-rate mortgage, 5/1 ARM and 30-year jumbo mortgage in Los Angeles.  ... Read more

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