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Dow 13,651.27 +247.85 +1.85% at at 2:40 PM with 100 minutes to closing
http://finance.yahoo.com/

http://biz.yahoo.com/ap/070918/fed_interest_rates.html?.v=14
Fed Cuts Key Interest Rate
Tuesday September 18, 2:39 pm ET
By Martin Crutsinger, AP Economics Writer
Fed Cuts Key Interest Rate in Effort to Fend Off Recession

WASHINGTON (AP) -- The Federal Reserve cut a key interest rate for the first time in four years, starting with an aggressive half-point move to prevent a steep housing slump and turbulent financial markets from triggering a recession. The action triggered a huge rally on Wall Street.

The Fed announced Tuesday that it was reducing its target for the federal funds rate, the interest that banks charge each other, from 5.25 percent to 4.75 percent.

The half-point reduction was double the quarter-point move that many had expected and sparked euphoria among investors, who had been worried that the central bank would be too slow in responding to recent market turmoil.

<blockquote data-quote="bigdog" data-source="post: 203691" data-attributes="member: 4374">Dow&nbsp; &nbsp; 13,651.27&nbsp; &nbsp; +247.85&nbsp; &nbsp; +1.85% at at 2:40 PM with 100 minutes to closing<a href="http://finance.yahoo.com/" target="_blank">http://finance.yahoo.com/</a><a href="http://biz.yahoo.com/ap/070918/fed_interest_rates.html?.v=14" target="_blank">http://biz.yahoo.com/ap/070918/fed_interest_rates.html?.v=14</a>Fed Cuts Key Interest RateTuesday September 18, 2:39 pm ETBy Martin Crutsinger, AP Economics WriterFed Cuts Key Interest Rate in Effort to Fend Off RecessionWASHINGTON (AP) -- The Federal Reserve cut a key interest rate for the first time in four years, starting with an aggressive half-point move to prevent a steep housing slump and turbulent financial markets from triggering a recession. The action triggered a huge rally on Wall Street.The Fed announced Tuesday that it was reducing its target for the federal funds rate, the interest that banks charge each other, from 5.25 percent to 4.75 percent.The half-point reduction was double the quarter-point move that many had expected and sparked euphoria among investors, who had been worried that the central bank would be too slow in responding to recent market turmoil.</blockquote>

[QUOTE="bigdog, post: 203691, member: 4374"] [SIZE="3"][B]Dow 13,651.27 +247.85 +1.85% at at 2:40 PM with 100 minutes to closing[/B][/SIZE] [url]http://finance.yahoo.com/[/url] [url]http://biz.yahoo.com/ap/070918/fed_interest_rates.html?.v=14[/url] [B]Fed Cuts Key Interest Rate[/B] Tuesday September 18, 2:39 pm ET By Martin Crutsinger, AP Economics Writer [B]Fed Cuts Key Interest Rate in Effort to Fend Off Recession[/B] WASHINGTON (AP) -- [U]The Federal Reserve cut a key interest rate for the first time in four years, starting with an aggressive half-point move to prevent a steep housing slump and turbulent financial markets from triggering a recession. The action triggered a huge rally on Wall Street. The Fed announced Tuesday that it was reducing its target for the federal funds rate, the interest that banks charge each other, from 5.25 percent to 4.75 percent. The half-point reduction was double the quarter-point move that many had expected and sparked euphoria among investors, who had been worried that the central bank would be too slow in responding to recent market turmoil.[/U] [/QUOTE]

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