The Federal Reserve took another aggressive step in its campaign to prevent a deep and devastating recession yesterday, cutting a key interest rate by three-quarters of a percentage point. The stock market staged its biggest rally in five years, with the Dow Jones industrial average rising 420 po... -
Fed Slashes Key Interest Rate, and Stocks Soar
The Federal Reserve took another aggressive step in its campaign to prevent a deep and devastating recession yesterday, cutting a key interest rate by three-quarters of a percentage point. The stock market staged its biggest rally in five years, with the Dow Jones industrial average rising 420 po...-
By Neil Irwin