Tuesday, December 02, 2008

Possible further cuts in rates after U.S. being declared in

The Federal Reserve chairman, Ben Bernanke, said on Monday that the implementation of further cuts in interest rates is certainly feasible, but added that even so, the fragile state of the economy will continue through most of 2009. The interest rate of the Fed is now 1%, a level seen only once during the past 50 years.

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