The Federal Reserve slashed a key U.S. interest rate by three-quarters of a percentage point Tuesday, a substantial cut but smaller than many in financial markets had expected, as part of an effort to hold off a deep recession and financial meltdown.
The Fed's action takes the bellwether federal funds rate to 2.25 percent, the lowest since February 2005, and comes two days after the central bank announced the latest in a series of
emergency measures to stem a fast-spreading global...
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