FOMC cuts fed funds and discount rates by half point each
September 18th, 2007By Greg Robb
Last Update: 2:15 PM ET Sep 18, 2007
In a statement, the FOMC said the action “was necessary to forestall some of the adverse effects on the broad economy that might otherwise arise from the disruptions in financial markets and to promote moderate growth over time.” The Fed said that some inflation risks remain. It said the credit crunch could hurt the economy.
http://www.marketwatch.com/news/story/federal…
