WALL STREET PROFIT NEWS
Financial News and Editorial Source.
The Federal Reserve lowered its key lending rate by 1/2 bps, following their inter-meeting emergency 3/4 bps cut. This represents a historic eight-day period in which officials have slashed rates more aggressively than any time in their history, to avoid or stop a recession. The Fed signaled they would ease further, even though the economy continued to grow - but they also suggested that the cumulative 225 basis points in policy easing over the past four months may be enough to keep the economy on track.