January 22, 2008
Fed cuts key rate 75bps to 3.5%..
“Citing weakening economic outlook, The Federal Reserve made its biggest cut in nearly 24 years – three quarters of a point.”
NEW YORK (CNNMoney.com) — The Federal Reserve slashed two key interest rates by three-quarters of a percentage point Tuesday following an unscheduled meeting, citing continued concerns about a weakening economy and turmoil in the financial markets.
—On that day, January 22, 2008: HEDGEaccordingly.com was founded.
The combination of events events on January 22, 2008 compelled our founder to commence writing, most compelling event being The Fed slashing the fed funds rate by 75 basis points. This became the first supporting fact of the thesis a financial crisis is on the horizon.
HEDGEaccordingly’s mission remains to provide our readers with a unique take on Finance, Wall St., Political and Business News.