Tuesday, January 22, 2008

Fed Cuts Rates 3/4% in Futile Attempt to Stave off Recession

"The Federal Reserve lowered interest rates in an emergency move for the first time since 2001 after tumbling global stock markets and a jump in the U.S. unemployment threatened to push the economy into recession.The central bank lowered the benchmark overnight lending rate to 3.5 percent from 4.25 percent,"

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