ADVISORY/Fed Cuts Interest Rates One-Half Percent.Business Editors ADVISORY... --(BUSINESS WIRE)--Jan. 4, 2001 TOPIC: The Federal Reserve recently cut interest rates by half a percentage point, to 6.0 percent, according to a story by the Washington Post. Experts allege that the cut is an attempt to counter-balance the slowing economy. In addition to the half-point reduction in the federal funds rate, the Federal Reserve Board also lowered by one quarter of a percentage point its discount rate, which it charges banks for short-term loans, the Post story said. Both actions reportedly came after the National Association of Purchasing Managers reported a sharp drop in its index of economic activity in the manufacturing sector during December, the story said. EXPERTS: ExpertSource can offer several highly qualified experts to comment on this story: Mr. Roy Whitehead, president and chief executive officer of Washington Federal Savings Washington Federal Savings is the savings and loan subsidiary of Washington Federal, Inc., a bank holding company based in Seattle, Washington that trades on the NASDAQ under the symbol WFSL. It has operations in Washington, Idaho, Oregon, Nevada, Utah, Arizona, and Texas. , has 24 years' experience at both commercial banks and thrifts, including serving as President of Washington Federal, Regional Vice President for Wells Fargo's South Texas Region, President of First Interstate Bank of Colorado and Executive Vice President for Fortune Bank of Clearwater, Florida Clearwater is a city located in central Pinellas County, Florida, USA, nearly due west of Tampa. As of the 2000 census, the city had a total population of 108,787; however, according to the 2005 U.S. Census Bureau's estimates, the city's population fell slightly to 108,687. . He was named CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Washington Federal in October 2000 and serves on the board of directors. 206/624-7930; PR: Internal - Cathy Cooper, VP (info@washingtonfederal.com). Prof. Jack Clark Jack Clark may refer to:
Francis I, 1494–1547, king of France (1515–47), known as Francis of Angoulême before he succeeded his cousin and father-in-law, King Louis XII. an economist at Baruch College Baruch College: see New York, City University of. who specializes in interest rate derivatives An interest rate derivative is a derivative where the underlying asset is the right to pay or receive a (usually notional) amount of money at a given interest rate. The interest rate derivatives market is the largest derivatives market in the world. . 212/802-6359; 212/802-2222 (University PR Phone) Professor Burton G. Malkiel, of Princeton University Princeton University, at Princeton, N.J.; coeducational; chartered 1746, opened 1747, rechartered 1748, called the College of New Jersey until 1896. Schools and Research Facilities , Department of Economics, can provide expert commentary on topics including economics and interest rates. 609/258-6445; 609/258-3000 (University PR Phone) ExpertSource cannot guarantee the immediate availability of these experts or their familiarity with this specific issue. ExpertSource, a collaboration of Business Wire and The Round Table Group, provides academic and industry experts to the media at no charge. Journalists are encouraged to submit queries to ExpertSource when seeking experts on specific subjects. An online registration form is available at http://www.businesswire.com/expertsource. Business Wire's Media Resource Center provides working journalists many free media services. Please visit the BW Media Resource Center at (www.businesswire.com/media) for more information. |
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