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Fed Slashes Benchmark Rate

Larger-than-anticipated drop drives stocks up, dollar down

By Jonas Oransky, Newser Staff

Posted Sep 18, 2007 2:05 PM CDT

(Newser) – The Federal Reserve aggressively cut its benchmark rate today, dropping the federal funds rate a half-point to 4.75%. The larger-than-expected cut was “intended to help forestall” the ballooning credit crisis, the central bank said in a statement. The cut in the key interest... Read full story »

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(NEWSER) - Stocks took a modest dip at the open today, as investors waited for a rate cut decision from the Federal Reserve. The Dow fell 53 points, while the S&P and Nasdaq crept down 0.9% and 1.1% respectively. Investors are expecting a half-point rate cut, bringing the fed funds rater down to 1%, and some believe an even bigger cut is coming, the Wall Street Journal reports. More»

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Fed Slashes Benchmark Rate

Larger-than-anticipated drop drives stocks up, dollar down

stock market • Federal Reserve • stocks • benchmarks • credit crisis • interest rate cut

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More Newser Stories

Fed Cuts Rate to 0%-0.25%

Target is record low as Reserve battles recession

Market Dips as Eyes Turn to Fed

But yesterday's gain hasn't evaporated yet

Stocks Fall 189 Despite Rate Cut

Alcoa offers dismal earnings report to start third-quarter season

Stocks Rocky After Rate Cuts

Investors cheer/jeer/cheer the rate cut

Fed Joins 5 Central Banks in Shock Rate Cut

US, EU, UK, others offer 50-point reduction to reverse diving markets

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