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Aug. 17th, 2007 08:57 amFederal Reserve makes rare cut to discount rate
Fed cuts discount rate in surprise move -- "The Federal Reserve took emergency steps to limit the damage to the US economy from the crisis in global credit markets on Friday by cutting the discount rate at which it makes loans to banks."
Fed's Poole avoids questions on economy in speech -- "Poole usually holds an exhaustive question and answer session with his audiences and the media."
Update: Dollar falls after Fed acts on credit turmoil -- "'By no means is this positive to the dollar,' said Gregory Salvaggio, a senior currency trader at Tempus Consulting in Washington. 'Actually, this is the two-headed monster for the buck: lower interest rates and slower growth.'"
Gold climbs as Fed calms markets
Fed cuts discount rate in surprise move -- "The Federal Reserve took emergency steps to limit the damage to the US economy from the crisis in global credit markets on Friday by cutting the discount rate at which it makes loans to banks."
Fed's Poole avoids questions on economy in speech -- "Poole usually holds an exhaustive question and answer session with his audiences and the media."
Update: Dollar falls after Fed acts on credit turmoil -- "'By no means is this positive to the dollar,' said Gregory Salvaggio, a senior currency trader at Tempus Consulting in Washington. 'Actually, this is the two-headed monster for the buck: lower interest rates and slower growth.'"
Gold climbs as Fed calms markets