The Federal Reserve cut interest rates modestly Tuesday, (a quarter of a percentage point, to 4.25 percent) to a nearly two year low. They left the door open for further reductions if the housing market and the rest of the economy continue to slump. The Dow Jones fell 294 points after the annoucement,Wall Street had hoped for a larger cut. For more on this story check out the following links:
http://www.statesman.com/news/content/news/stories/nation/12/12/1212fed.html
http://www.nytimes.com/2007/12/12/business/12fed.html?hp
http://news.yahoo.com/s/ap/20071211/ap_on_bi_ge/fed_interest_rates
~Sandy
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