Federal Reserve Cuts Interest Rate

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Written byTim Bain
Founder & Life Insurance Agenthttps://res.cloudinary.com/quotellc/image/upload/insurance-site-images/quickquote-live/2020/03/tim-bain.jpeg

UPDATED: Feb 25, 2020

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The Federal Reserve today cut its key federal funds rate by three-quarters of a percentage point to a new all-time low of zero – 0.25 percent. That is the lowest level ever recorded for the federal funds rate.

The federal funds rate is an overnight bank lending rate that affects rates on various types of loans such as variable-rate mortgages and credit card rates, among others. The rate may also impact rates on various investment and insurance products offered by life insurance companies.

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Applications for life insurance on QuickQuote.com are made through QuickQuote Financial, Inc. or through its designated agent, Timothy S. Bain, only where licensed and appointed. License numbers are available here and are automatically provided where required by law. QuickQuote's National Producer Number is 1927227. Timothy S. Bain is a licensed life insurance agent in 49 states, including the District of Columbia, and his resident state of Nevada. Timothy S. Bain's Nevada license number is 45949; in California, 0D23811; in Louisiana, 274924; in Massachusetts, 1762164; in Minnesota, 20267005; in Texas, 1092088; and in Utah, 134031.