2001-2003 interest rate moves

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The Federal Reserve Board aggressively cut interest rates 11 times in 2001 and once in 2002, but not all rates move in lock step with the Fed. Mortgages, for example, bounced around the 7 percent line for more than a year before dropping recently. Other products, such as credit cards, have built-in delays before they reflect Fed actions.

— Updated: March 18, 2003