 |
U.S. Fed Rate Cut Expected
The Federal Reserve is expected to cut interest rates for a seventh time this year when policy-makers meet Tuesday, extending the Fed's most aggressive credit-easing campaign in nearly two decades.
Private economists see a move this week as a certainty, given the remarks made by Federal Reserve Chairman Alan Greenspan and other Fed officials in recent weeks that the country's year-long struggles with a weakening economy are not yet over.
"They have pretty much locked in another quarter-point rate cut," predicted David Wyss, chief economist at Standard & Poor's Co. in New York. "Alan Greenspan does not want another recession on his watch."
In an effort to keep the economy out of recession, the Fed has cut interest rates six times beginning Jan. 3.
In This Section
|