U.S. Fed pumps $3.5 bln into financial market
Business Law
[##_1L|1369514519.jpg|width="130" height="93" alt=""|_##]The U.S. Federal Reserve on Monday pumped 3.5 billion dollars into the financial system to help beat back a widening credit crisis. The injection was announced by the Federal Reserve Bank of New York, which handles such operations for the Fed. Since Aug. 9, the Fed has injected a total of 97.5 billion dollars into the financial markets to ease tightening credit stemming from the troubles in the U.S. subprime mortgage market, which offers loans to people with lower credit and income.
On Friday, the U.S. central bank approved a half-percentage point cut in its discount rate on loans to banks to "promote the restoration of orderly conditions in financial markets."
The decision means the discount rate, the interest rate that the Fed charges to make direct loans to banks, will be lowered to 5.75 percent from 6.25 percent.
But the Fed did not change its target for the more important federal funds rate, the interest commercial banks charge each other on overnight loans. The benchmark interest rate has remained at 5.25 percent for more than a year.
In the statement announcing the interest rate cut, the Fed said it "is monitoring the situation and is prepared to act as needed to mitigate the adverse effects on the economy arising from the disruptions in financial markets."
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Is Now the Time to Really Call a Special Education Lawyer?
IDEA, FAPE, CHILD FIND and IEPs: The Individuals with Disabilities Education Act (IDEA) guarantees all children with disabilities to a free appropriate public education (FAPE). FAPE starts with a school’s responsibility to identify that a child has a disability (Child Find) and create an Individualized Education Program (IEP) to suit the needs of the child.
Forte Law Group is one of only a very few law firms within the state of Connecticut that is dedicated to exclusively representing families and children with special needs.
Parents need to be persistent, dedicated and above all else aware of the many services and accommodations that their child is entitled to under the law. As early as this point within your child’s special education, many parents will often find themselves in the situation asking, “is now the time to really call a special education lawyer?” Here are a few things to consider when asking yourself that question.