US Federal Reserve cut interest rates by 0.5%

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US Federal Reserve cut interest rates by 0.5%

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10-30-2008, 02:39 AM

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US Federal Reserve cut interest rates by 0.5%

The US Federal Reserve unanimously voted today to cut interest rates from 1.5% to 1% in a bid to stave off a recession. Wall Street had been expecting the half-point cut in interest rates and the Dow Jones lost 64 points to 9000 following the news. However, it recovered by 52 points to 9117 within [...]

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