Originally published October 31, 2007 at 12:00 AM | Page modified October 31, 2007 at 2:01 AM
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Trick or treat for Wall Street
Wall Street has experienced many scares lately, from a global credit crunch to big mortgage-related losses for top banks, so it's fitting...
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Wall Street has experienced many scares lately, from a global credit crunch to big mortgage-related losses for top banks, so it's fitting the Federal Reserve's latest decision on interest rates comes on Halloween.
Many investors hope for a treat, in the form of another rate cut, rather than a trick.
The hope is a lower target for the benchmark federal funds rate would prompt banks to cut rates on mortgages — a boon to homeowners with adjustable rates due to reset — as well as credit cards.
A cut would also make it cheaper for corporations to borrow.
Copyright © 2007 The Seattle Times Company
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