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Federal Reserve Slashes Interest Rates; More Cuts May Come.
Publication: Daily News (New York, New York) (via Knight-Ridder/Tribune Business News) Publication Date: 16-MAY-01 |
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COPYRIGHT 2001 Daily News
Byline: Judith Schoolman
May 16--Alan Greenspan's Fed slashed interest rates to their lowest level in seven years while leaving open the possibility that there's more to come if the economy continues to falter.
The Fed said declining company spending, along with a cloudy corporate profit picture and financial risks abroad "continues to weigh on the economy." As a result, "the risks are weighted mainly toward conditions that may generate economic weakness in the foreseeable future."
This gave market...
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