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Federal Reserve Trims Interest Rates Again.

The Denver Post (Denver, CO)

| August 22, 2001 | This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Aldo Svaldi

Aug. 22--The Federal Reserve cut interest rates for the seventh time this year, pushing the cost of borrowing money to a seven-year low Tuesday.

But fears continue to mount that the economy's luck may be running out.

Six earlier interest-rate reductions have failed to pump new life into the sagging U.S. economy, and solid evidence of a long-anticipated rebound remains elusive -- even with the additional 0.25 percentage-point cut approved Tuesday.

Major stock indexes were up before the Federal Reserve announced the cut in the federal funds rate, then fell the rest of the day.

The Dow Jones industrial average fell…

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