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Article: Fed slashes funds rate
- Article from:
- SouthtownStar (Chicago, IL)
- Article date:
- March 19, 2008
CopyrightCopyright, 2008, SouthtownStar (Chicago, IL). All rights reserved. REPRODUCTION PROHIBITED. (Hide copyright information)
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By MARTIN CRUTSINGER the associated press WASHINGTON - The Federal Reserve on Tuesday slashed a key interest rate by three-fourths of a percentage point, moving aggressively to contain a credit crisis threatening to push the country into a severe recession. The latest action brought the federal funds rate - the interest that banks charge each other - down to 2.25 percent, the lowest point since late 2004. It marked the second cut of three-fourths of a percentage point this year. The first occurred at an emergency meeting Jan. 22 and was followed by a half-point cut at a regular meeting Jan. 30. Fed Chairman Ben Bernanke and his colleagues now have cut the funds rate six times since ...
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Article: Fed Cuts Funds Rate
AP Online;
March 18, 2008 ;
700+ words
... ... aggressive cut in the Fed's key interest rate, the federal funds rate. Expectations are ... full point. If the Fed cuts the funds rate by a full point ... in 16 years. The Fed's target for the federal funds rate, the interest that ...
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