Fed cuts key rate by half-percentage point
Reduction in benchmark will lower borrowing costs, could calm markets
he Federal Reserve Tuesday surprised financial markets with an aggressive half-point cut in a key lending rate, lowering borrowing costs for businesses and consumers in response to a housing downturn that threatens to spread to the broader economy.
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Read full article here: http://www.msnbc.msn.com/id/20837026/
MSNBC.com - Sept. 18, 2007.
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