Fed Slashes Key Rates, Sparking Stock Rally

Story date: 2007-09-18 11:16:00
Added on: 2007-09-18 21:00:33

CNBC - ... time in four years was seen as cementing the case for cutting overnight borrowing costs from their current ... rate that governs direct Fed loans to banks in an effort to unfreeze credit markets unsettled by mortgage defaults. A cut in overnight rates on ...


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