Yesterday at 19:15 GMT the Fed has released the FOMC statement for this month and voted to reduce the overnight lending rate 50 basis points to 3%.This reflects the lowest rates have been since June of 2005. The move was made easier after GDP numbers came out much lower than expected, mostly on negative housing growth. It is the second time in nine days, in a hopeless bid to save U.S. economy from entering a recession. Today's policy action, combined with those taken earlier, should help to
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Thursday, January 31st, 2008 at 2:59 pm
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