US Fed cuts key interest rate for third time in 3 months

US Fed cuts key interest rate for third time in 3 months (access required)

By dmc-admin

Published: December 14, 2007 at 1:00 am

The Federal Reserve cut a key interest rate by one-quarter of a percentage point Dec. 11, trying to keep the U.S. economy out of recession.The reduction in the federal funds rate to 4.25 percent marked the third rate cut in the past three months. Fed officials signaled that further cuts were possible if a severe ...

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