|
April 30th, 2008
Posted: 02:16 PM ET
NEW YORK (CNN) — The Federal Reserve slashed a key interest rate by one-quarter of a percentage point Wednesday, in what many economists are predicting might be the last such cut by the central bank for a while. The Fed cut its federal funds rate, an overnight bank lending rate, to 2 percent. It is the seventh cut since August, when the rate stood at 5.25 percent, and comes as the Fed is trying to balance between fears of recession and inflation. |
 
Editor's note
The CNN Wire is a running log of the latest news from CNN World Headquarters, reported by CNN's correspondents and producers, and The CNN Wire editors. "Posted" times are Eastern Time.  New on the CNN Wire
 |
|
CNN Comment Policy: CNN encourages you to add a comment to this discussion. You may not post any unlawful, threatening, libelous, defamatory, obscene, pornographic or other material that would violate the law. Please note that CNN makes reasonable efforts to review all comments prior to posting and CNN may edit comments for clarity or to keep out questionable or off-topic material. All comments should be relevant to the post and remain respectful of other authors and commenters. By submitting your comment, you hereby give CNN the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying information via all forms of media now known or hereafter devised, worldwide, in perpetuity. CNN Privacy Statement.
|
|
del.icio.us
