Fed cuts rate to 1.0% in latest move to ease crisis
WASHINGTON: The US Federal Reserve cut its key lending rate a half point on Wednesday to match a historic low of 1.0 percent in the latest action to ease a credit crisis that is strangling the US economy. Analysts said the Fed action and an unusually bleak assessment suggests the Fed could trim rates even more to revive growth and stave off a deflation threat. The cut in the federal funds rate, which...
October 30th, 2008