Fed slashes target rate to 3.5 Percent
January 22, 2008 - The Federal Open Market Committee has decided to lower its target for the federal funds rate 75 basis points to 3-1/2 percent.
The Committee took this action in view of a weakening of the economic outlook and increasing downside risks to growth. While strains in short-term funding markets have eased somewhat, broader financial market conditions have continued to deteriorate and credit has tightened further for some businesses and households. Moreover, incoming information indicates a deepening of the housing contraction as well as some softening in labor markets.
CareerBuilder.com Job Forecast: Slower, but Steady Hiring Expected for 2008
CareerBuilder.com, an online job site with more than 23 million unique visitors and over 1.5 million jobs, released the results of its latest survey, conducted by Harris Interactive(R), tracking projected hiring trends for 2008. The survey, titled “2008 Job Forecast,” was conducted from November 13 through December 3, 2007 among 3,016 hiring managers and human resource professionals in private sector companies.