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The Federal Reserve announced Wednesday that it cut the Fed funds target rate by 25 basis points to bring the key interest rate to 2.00%. The discount rate was also cut by 25 basis points to 2.25%. In an accompanying statement, the Fed said "substantial" easing should promote growth, but that economic...
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Dallas Fed President Richard Fisher, one of two Fed dissenters in the last FOMC rate cut decision, said he has a "strong reluctance" about further rate cuts . Speaking at the Chicago Council on Global Affairs, Fisher warned against "inflating our way" out of the credit crisis and that further cuts may...