Investors Hope for Interest Rate Cut
STEVE INSKEEP, host:
NPR's Business News starts with investors hoping - hoping for a rate cut.
They want lower interest rates to help get Wall Street out of some credit trouble. The fear is that the fallout could spread beyond banks to the overall economy. The market took a major slide on Thursday and Friday, but all major U.S. stock indexes ended the week a little bit higher after the Federal Reserve injected $38 billion into the banking system on Friday.
Many investors say that's not enough, and they want the Fed to rescue financial markets with a sharp emergency cut in interest rates as soon as today. That would take the pressure off of stock and bond markets.
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