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Loan Modification
: Mortgage Lender Implode-o-MeterFed Weighs Interest on Reserves as New Benchmark Rate
By Implode-Explode Heavy Industries
Federal Reserve policy makers are considering adopting a new benchmark interest rate to replace the one they?ve used for the last two decades.
The central bank has been unable to control the federal funds rate since the September 2008 bankruptcy of Lehman Brothers Holdings Inc., when it began flooding financial markets with $1 trillion to prevent the economy from collapsing.
Full post as published by Mortgage Lender Implode-o-Meter on January 26, 2010 (boomark / email).
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