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Home / Focus / Banking & Finance March 2008 / Fed’s latest aggressive rate cut decision not unanimous (access required)

Fed’s latest aggressive rate cut decision not unanimous (access required)

The Federal Reserve on March 18 slashed a key interest rate by three-fourths of a percentage point, moving aggressively to contain a credit crisis threatening to push the country into a severe recession. The latest action brought the federal funds rate — the interest that banks charge each other — down to 2.25 percent, the ...

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TimesPast-10-28-16

The Blizzard of 1916 (access required)

This is Main Street in Bisbee on January 21, 1916, the day after the biggest snowfall in city history. The storm began on January 19 with heavy winds that tore off roofs in the Warren District. The wind abated, the sky cleared briefly—then it began to rain. The streets soon ran like rivers. The sky cleared again in the afternoon, but by 5 p.m. snow began to fall, increasing throughout the night until by morning all of southern Arizona from Benson to the Mexican border was blanketed.