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Why Cut the Discount Rate, and What's Next?
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The Fed on Friday morning cut the discount rate — the amount the Fed charges banks for overnight loans — by half a percentage point, thereby ensuring banks more access to money when they need it.
Alan Blinder, economics professor at Princeton University and former vice chairman of the Federal Reserve, discusses why the Fed did it and what other tools it might have that could help calm anxieties.
Blinder talks with Robert Siegel.
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This work is only possible with community support. Every investigation, service guide, and story is made possible by people like you who believe that local news is a public good and that everyone deserves access to trustworthy local information.
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