WEDNESDAY OCTOBER 29
Fed May Slash Benchmark Interest Rate To 1%

Stocks are leaping again today as the market scuttlebutt madly signals a move by the U.S. Federal Reserve this afternoon to cut the benchmark interest rate by half a point. The bottom line? Inflation is no longer half as worrying as the specter of a crippling recession that threatens to put the Great Depression to shame. Or so sayeth the latest rabble of talking heads. But considering the Fed has already chopped the rate down from 5.25% over the past 13 months and flooded the financial system with $1 trillion in lending programs, is it likely this last trim will do the trick? You tell us.

October 2008

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