Fed cuts discount lending rate as markets remain volatile

NEW YORK —The Federal Reserve’s decision in mid-August to cut a key lending rate was welcome news for restaurant operators already battered by weeks of steep losses and subsequent recoveries in the financial markets.

The Fed cut by a half-percentage point its discount rate on loans to banks “to promote the restoration of orderly conditions in financial markets.” The discount rate does not have a direct impact on consumers and applies mostly to banks that are

Register to view the full article

Register to view this article

Already a member? .

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish