Fed ready to slash rates amid deepening recession

WASHINGTON – As unemployment rises painfully higher and nest eggs are shattered, the Federal Reserve is prepared slash a key interest rate — perhaps to an all-time low — in a desperate bid to stem the country’s economic slide.

                     With the Fed's key rate dropping ever closer to zero, the central bank is moving into uncharted territory.

news.yahoo.com/s/ap/20081216/ap_on_bi_ge/financial_meltdown

Do you think that they should slash this key interest rate? Do you think it will do any good in bringing us out of this recession? I personally don’t know. But then again, I don’t know that much about economics and politics either.

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