Wednesday, April 30, 2008

Fed cuts rates by a quarter-point, may be set to pause

"The Federal Reserve cut its key interest rate by a quarter percentage point Wednesday, but the central bank's statement signaled it may be the last rate cut for at least a while.

The cut took the federal funds rate, the key overnight rate at which banks loan money to one another, to 2%. It had been at 5.25% as recently as September, when the Fed started slashing rates in an effort to spur the economy and keep the nation out of recession."

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Fed cuts rates by a quarter-point, may be set to pause

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