Archive for September 18th, 2007
Stocks Soar After Half-Point Rate Cut
A jubilant Wall Street barreled higher Wednesday after the Federal Reserve cut its benchmark interest rate by a larger-than-expected half a percentage point. The Dow Jones industrial average surged more than 320 points after the Fed announced its move.
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Although some investors hoped for a rate cut [...]
Posted: September 18th, 2007 under .
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Fed Slashes Interest Rates to Buffer Economy
The Federal Reserve on Tuesday slashed benchmark interest rates by a half-percentage point in a bold bid to buffer the economy from a housing slump and related financial market turbulence.
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The unanimous decision by the central bank’s Federal Open Market Committee took the overnight federal funds rate down to [...]
Posted: September 18th, 2007 under .
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