Traders work on the floor of the New York Stock Exchange Tuesday in New York City. The Federal Reserve, in reaction to a severe downturn in worldwide stock markets and concern about a United States recession, reduced its interest rate by three-quarters of a percentage point before the opening NYSC bell. (Stephen Chernin/Getty Images)
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- Federal Reserve makes surprise interest rate cut (feature audio)
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Federal Reserve makes surprise interest rate cut
January 22, 2008
The Federal Reserve this morning cut a key interest rate by three-quarters of a percentage point. The move came on the heels of a sharp plunge in global markets on Monday. Minnesota Public Radio's chief economics correspondent Chris Farrell discusses the situation with Morning Edition host Cathy Wurzer.
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