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The Response: In response to economic conditions and a credit crunch occurring in America, the Federal Reserve opted to lower interest rates. Ten separate decreases in the federal funds rate in 1991 dropped the percentage from 6.75 to 4, ultimately going as low as 3 percent in 1992. These decreases, a more than 50 percent cut in less than two years, bolstered the economy and is viewed as one of the factors leading to the economic boom of the mid and late ’90s. PPR
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Kyle A. Richardson
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Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.
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