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Markets cheer rate cut

Τετάρτη, 19 Μαρτίου 2008 03:35

The US Federal Reserve slashed rates by 3/4 of a point, cutting the overnight borrowng rate and sparking a rally.The Fed's smaller than expected rate cuts come a day after it engineered of a rescue of venerable Wall St. firm Bear Stearns, which bet badly on mortgage-backed investments and could no longer meet its trading obligations. Bobbi Rebell reports.


Reuters