Year: 2007
Rate: Decreases to 4.75 percent
The details: The housing market's troubles prove to be far worse than expected, as spending on housing projects for the year tumbles by the largest margin in 25 years. However, energy prices are high and the Fed has inflationary concerns. But, with the economy slowing, it begins to lower the federal funds rate to 4.75 percent and eventually to 4.25 percent.
More On The Economy:
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