Sen. McCain says Fed should have cut rates earlier
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U.S. Republican presidential  front-runner John McCain said on Sunday that Federal Reserve  Chairman Ben Bernanke should have cut interest rates sooner.
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The chairman of the U.S. Federal Reserve on Thursday threw his weight behind proposals for near-term actions to stimulate economic growth to ward off an election-year recession, but warned such a plan could do more harm than good unless put together quickly.
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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 cut a key interest rate today, aiming to prevent turbulence in the housing and credit markets from slowing the U.S. economy.
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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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US central bank chief hints at interest rate cut to ease credit crisis.
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The US Federal Reserve has cut interest rates for the second time in nine days to ward off a recession.
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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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US Representative John Spratt of South Carolina said the Federal Reserve should ``go lightly&#39;&#39; on raising the benchmark interest rate because of the economy.
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Federal Reserve chairman Ben Bernanke said in a letter to a US senator that the central bank would act &quot;as needed&quot; to ease the impact of a credit squeeze on the US economy.
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Senator John McCain said that, if elected, he would cut spending sharply while lowering taxes at the same time.
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The Federal Reserve's  interest rate cuts are appropriate to restore stability in  financial markets and prevent damage to the broader economy,  Minneapolis Fed President Gary Stern said on Tuesday.
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Despite calls in Washington for short-term economic relief, John McCain proposed a long-term economic plan on Thursday that would lower the corporate income tax rate and provide a host of other tax breaks for business. "We will get through this rough patch, my friends," McCain told supporters.
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The Federal Reserve is expected to cut interest rates by a quarter point Wednesday.
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Business & money: West's leading thinktank urges Federal Reserve to cut interest rates as housing market crisis deepens.
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WASHINGTON -- Federal Reserve Chairman Ben Bernanke pledged Thursday to slash interest rates yet again to prevent housing and credit problems from plunging the country into a recession.
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Investor's Business Daily - Markets shouldn't focus so much on how much the central bank will cut interest rates at any one time, said Fed. Gov. Frederic Mishkin. "What is important for pricing most financial assets is the path of monetary policy, not the particular action taken at a specific meeting." That said, Mishkin largely backed up Fed chief Ben Bernanke's Thu. comments, saying "monetary policy needs to be timely, decisive and flexible." That also supports Wall St.'s forecast of a 50-basis point 18ate cut at the Fed's Jan. 29-30 meeting.