Saturday, August 18, 2007

Wall Street got it what it wanted...

Federal Reserve cut its key discount rate a half percentage point and all of the fears temporarily disappeared as the Dow quickly soared. The Federal Reserve had hoped that the 120 billion dollars they put into the banking system would be enough to shore confidence but it wasn't, which led them to reduce the rate that has stood for over a year. It's being stated that they will do more if necessary...

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