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Bernanke May Cut Benchmark
Rate by Most Since Volcker
Federal Reserve Chairman Ben
S. Bernanke may be readying
the deepest interest-rate cut
in a generation as the central
bank struggles to prevent a
meltdown in financial markets
and a recession. Traders
predict the Federal Open
Market C
more

http://www.allamericangold.com
/
Bernanke May Cut Benchmark
Rate by Most Since Volcker
Federal Reserve Chairman Ben
S. Bernanke may be readying
the deepest interest-rate cut
in a generation as the central
bank struggles to prevent a
meltdown in financial markets
and a recession. Traders
predict the Federal Open
Market Committee, meeting
today in Washington, will
lower the overnight lending
rate by a full percentage
point or more, based on
futures prices in Chicago.
That would be the biggest
reduction since 1984, when
Paul Volcker led the central
bank, and would bring the
benchmark rate down to 2
percent. The Fed took
emergency steps over the
weekend to stave off a
financial panic, lowering its
rate on direct loans to banks
and becoming lender of last
resort for Wall Street's
biggest dealers in government
bonds

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Tags Partiot, Radio, News, Hour, Bear, Sterns, JPMorgan, NY, Fed, Wall, Street, economy, inflation, Gold