Wisconsin Banking Update
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Fed Cuts Rate to Record Low
Posted on December 17th, 2008 No commentsBy cutting the federal funds rate, one Milwaukee analyst speculates that the Fed may be trying to get 30-year fixed mortgages down to 4.5 percent. The Fed’s actions are “virtually unprecedented,” said James McKenna, chief executive of North Shore Bank in Brookfield and a member of the American Bankers Association Board. “They are trying everything and anything from a monetary as well as a fiscal standpoint.” Read the Milwaukee Journal Sentinel article.
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