Why did the Federal Reserve Bank lower interest rates after 9/11? Please explain/be through Kind regards Colin

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Why did the Federal Reserve Bank lower interest rates after 9/11? Please explain/be through Kind regards Colin

2007-01-06 04:50:01 · 2 answers · asked by coolcoling 1 in Social Science ➔ Economics

2 answers

To compensate for an anticipated downturn in purchases. They were afraid people would be too traumatized to shop, so they gave them a little incentive in the form of decreased benefits for keeping your money lying around in a savings account and decreased penalties for borrowing money to spend.

2007-01-06 04:57:21 · answer #1 · answered by Geoffrey F 4 · 2⤊ 0⤋

all major banks pulled the plug on Chicago and went to new york

2007-01-06 14:42:12 · answer #2 · answered by bev 5 · 0⤊ 2⤋