Dec 16
Federal Reserve cuts interest rate
***USATODAY.com Breaking News***
WASHINGTON (AP) – The Federal Reserve has cut its target for a key interest rate to the lowest level on record and pledged to use “all available tools” to combat the current financial crisis. The central bank says it reduced the federal funds rate, the interest that banks charge each other, to a range of zero to 0.25%. That is down from the 1% target rate in effect since the last meeting in October.
