Fed: Economic woes will last despite radical moves
WASHINGTON (AP) — Even as Federal Reserve officials slashed their key interest rate to a record low and pledged to use other unconventional tools to fight the worst financial crisis since the 1930s, they still feared the economy would be stuck in a painful rut for some time.
Documents released Tuesday provided insights into the Fed's historic decision to ratchet down its rate to near zero from 1 percent at ...
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