Fed Cuts Key Rate to a Record Low

Fed Cuts Key Rate to a Record Low
The Federal Reserve entered a new era yesterday, lowering its benchmark interest rate virtually to zero and declaring that it would now fight the recession by pumping out vast amounts of money to businesses and consumers through an expanding array of new lending programs.
http://www.nytimes.com/2008/12/17/business/economy/17fed.html?th&emc=th



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