From a foot-dragging Fed to a benchmark rate cut too far

The Federal Reserve sure blew it. In the week leading up to the Fed’s Sept. 18 meeting, all the chatter was about how the central bank would have to cut its benchmark rate to soothe money markets, get credit flowing again and take out some insurance against recession. If anything, policymakers were dragging their feet. In the ...

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From a foot-dragging Fed to a benchmark rate cut too far

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