Federal Reserve Cuts Interest Rates by 3/4 of a point

[engine]

"The Federal Reserve, confronted with a global stock sell-off fanned by increased fears of a recession, slashed a key interest rate by three-quarters of a percentage point on Tuesday and indicated further rate cuts were likely.

The surprise reduction in the federal funds rate from 4.25 down to 3.5 percent marked the biggest one-day rate move by the central bank since it cuts its discount rate by a full percentage point in December 1991, a period when the country was struggling to get out of a recession.

Federal Reserve Cuts Interest Rates by 3/4 of a point [seattlepi.nwsource.com]

That's quite a cut in one go. Should we read desperation or simply timely.

[SuzyUK]

timely, I'd say (tin foil hat on of course) :)

The lunchtime news said it was unprecedented.. not the size of the cut but the fact they did it without announcement

[henry0]

It is called an emergency measure (it's the correct term)
Was supposed to be announced next week
However this might not be the end of it (cuts)

It triggered the following post
Somehow related [webmasterworld.com] which seems to fall in oblivion!