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NEW YORK (Dow Jones)--The Federal Open Market Committee decided today to lower its target for the federal funds rate by 50 basis points to 2 percent. In a related action, the Board of Governors approved a 50 basis point reduction in the discount rate to 1-1/2 percent.
- PROSPECTS TO BE SEEN AFTER FORCES RESTRAINING DEMAND ABATE MORE
- DJ =Fed Cuts Funds Rate To 40-Yr Low, Says More To Come
- DJ 14:20 *DJ Fed Also Lowers Discount Rate By 50 Basis Points [DJDAY]
- SECURITY CONCERNS MAY MUTE PRODUCTIVITY FOR A TIME