18 September 2001, 09:34 Fed cuts short-term rates by 50 basis points in intermeeting move
Washington, Sept. 17 (BridgeNews) - The Federal Reserve announced it
has cut its key federal funds rate target and its discount rate by 50
basis points.
The Fed made the unusual move of cutting interest rates between regularly
scheduled monetary policy meetings following last week's terrorist attacks
in New York and Washington, and on the morning of the reopening of U.S.
equity trading, which was halted for most of last week.
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