Fed Votes to Cut Rate a Quarter-Point to 2%

by Admin on April 30, 2008

Exclusive: Fed Votes to Cut Rate a Quarter-Point to 2%

The Federal Reserve is Cutting Rates Another 25bp; Fed Says “Substantial” Easing to Date Should Promote Growth, Financial Markets Remain Under “Considerable Stress”; Vote 8-2, With Plosser and Fisher Dissenting; Uncertainity About Inflation “Remains High” and Economic Activity “Remains Weak”