Cautious Fed turns aggressive, surprises with 50

Federal Reserve officials chose to go the whole hog last week in response to a risk assessment, not a current reality. The Federal Open Market Committee reduced its target for the overnight lending rate by a half-percentage point, to 4.75 percent, the first cut in four years. Separately, the Federal Reserve Board also lowered the discount ...

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Cautious Fed turns aggressive, surprises with 50

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