Fed expected to cut interest rates today (The Daily Times)

Story date: 2007-10-31 11:20:47
Added on: 2007-10-31 14:00:22

WASHINGTON -- With oil prices soaring and the housing market sinking, the Federal Reserve is likely to combat the economic turmoil with more interest rate cuts designed to ease a credit crunch that has roiled financial markets since this summer when investors suddenly became concerned about mounting losses from defaults on subprime mortgages.


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