Posted AT 3:42 PM EST on 30/04/08
Fed cuts interest rates by a quarter point
WASHINGTON — The Federal Reserve cut a key interest rate by a quarter-point Wednesday, a smaller move than the aggressive easing it undertook earlier this year. There were signs the Fed may believe it has done enough to prevent a deep recession.
The Fed action, after a two-day meeting, pushed the federal funds rate down to 2 per cent, the lowest level since late 2004.
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