WASHINGTON -- The Federal Reserve cut a key interest rate by a quarter-point Wednesday, saying the economy is weak, the housing market is still in the doldrums and credit markets remain troubled.
There were signs the Fed may believe it has done enough to prevent a deep recession.
The Fed action, after a two-day meeting, pushed the federal funds rate down to 2 percent, the lowest level since late 2004.
http://www.indystar.com/apps/pbcs.dll/article?AID=/20080501/BUSINESS/805010442/1003/BUSINESS
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