Fed slashes interest rates to buffer economy
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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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Former Federal Reserve Chairman Alan Greenspan said on Thursday the Fed's decision to cut interest rates this week had lowered the risk of a U.S. recession, although chances were still above one in three.
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Federal Reserve Chairman Ben Bernanke said on Thursday that the U.S. economic outlook had worsened, and more interest rate cuts may be needed.
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A vicious rout of global stock markets at the start of the week sent the Federal Reserve scrambling to slash U.S. interest rates on Tuesday and the White House and Congress sped up work on tax cuts and other steps to ward off a possible recession.
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The U.S. Federal Reserve on Tuesday slashed the benchmark federal funds rate 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 U.S. Federal Reserve on Tuesday  slashed U.S. interest rates by a hefty three-quarters of a  percentage point, the biggest rate cut in more than 23 years,  in an emergency bid to lend support to a U.S. economy some fear  is on the verge of recession.
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WASHINGTON -- Individuals and businesses are likely to see their borrowing costs drop further as the Federal Reserve weighs another interest-rate reduction to bolster a sagging economy.
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The Federal Reserve, confronted with a global stock sell-off fanned by increased fears of a recession, cut a key interest rate by three-quarters of a percentage point on Tuesday, the biggest one-day move by the central bank in recent memory.
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Good news on economic growth discourages investors hoping for interest rate cuts.
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The Federal Reserve is expected to lower interest rates on Wednesday as part of an ongoing aggressive effort to spare the economy from the worst effects of a deep housing slump and credit crunch.
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The Federal Reserve on Wednesday resumed a two-day policy meeting that is widely expected to result in a decision to cut U.S. interest rates again to shore up the faltering economy.
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The Federal Reserve, confronted with a global stock sell-off fanned by increased fears of a recession, cut a key interest rate by three-quarters of a percentage point on Tuesday
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The Federal Reserve is expected to cut interest rates by a quarter point Wednesday.
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The Federal Reserve cut the target on a key short-term interest rate by a half of a percentage point today to 4.75 percent, further acknowledgment from the central bank that the mortgage meltdown plaguing Wall Street and Main Street could have a negative impact on the economy.
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Jolted by global recession fears, the Federal Reserve slashed interest rates Tuesday, and President Bush and leaders of Congress joined in a rare show of cooperation in promising urgent action to pump up the economy with upwards of $150 billion in tax cuts and government spending.
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Aggressive moves to cut interest rates by America's central bank are intended to stave off a financial meltdown.
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Stock index futures sharply cut losses on Tuesday after the Federal Reserve slashed its benchmark fed funds interest rate by 75 basis points.