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Fed cuts interest rate Economy
score: +1
score: -1
score: 2, Economy, 2008-10-29 21:00:45, published by CNN
The Federal Reserve cut a key short-term interest rate by a half-percentage point today, dropping the federal funds rate from 1.5 percent to 1 percent. The Fed also expressed continued worries about the damage being done to the economy by the ongoing crisis in the financial and credit markets. [additional details]