Photo: #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.
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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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The impact of the Fed's interest rate cut


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The Federal Reserve Board's early morning action to cut interest rates is aimed at calming U.S. markets. Midmorning examines the strategy behind this move.

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  • Chris Farrell: Minnesota Public Radio's chief economics editor.
  • Art Rolnick: Senior vice president and director of research at the Federal Reserve Bank of Minneapolis.

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