Fed Cuts Rates Quarter Point

The Federal Reserve once again cut a key interest rate, trying to do whatever it can to keep the economy from grinding to a complete stop. Today's quarter-point cut brings the Fed Funds interest rate to 2 percent. It was the seventh such cut since September, when the central bank first started to lower rates — then at 5.25 percent — in response to a collapsing housing market and the tightening of credit. The last time interest rates were this low was December 2004. This cut might be the last...Full Story
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