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Fed Cuts Key Interest Rate

Only Available in Archive Formats.
Fed Cuts Key Interest Rate

Fed Cuts Key Interest Rate

Fed Cuts Key Interest Rate

Only Available in Archive Formats.

NPR's John Ydstie reports Federal Reserve policymakers reduced a key interest rate today by a quarter point in an effort to shield the economy from a worldwide downturn. The Fed Funds rate — the rate at which banks borrow money from each other on an overnight basis — now stands at 5.25 percent. It was the first time the Fed has cut interest rates since January of 1996.