Fed Cuts Rate 0.75%, but Dow Drops


The Federal Reserve, responding to an international stock sell-off and fears about a possible United States recession, cut its benchmark interest rate by three-quarters of a percentage point on Tuesday.

Mr. Bush is to meet Congressional leaders later on Tuesday in a regular session almost certain to be dominated by the economy and the stimulus package. “I’m not going to close off any doors,” Ms. Perino said when asked about the shape the package might take.

“Time is of the essence and the president stands ready to work on a bipartisan basis to enact economic growth legislation as soon as possible,” Mr. Paulson said.

Mr. Paulson said he was optimistic that the administration and legislators could find a bipartisan “common ground” on the economic package and “get this done before winter turns into spring.”

He also said he hoped to do something in the next couple of weeks “that will make a difference this year.”



Are these people in Washington D.C., by far the main being the party in power in both houses of Congress, the Democrats, willing to throw chances of winning this economic battle away, as they so ignorantly and smugly did for Iraq winning its battle for and of their freedoms they now have, just for political gain in winning the Presidency?

The Iraqi’s are winning their battle now. Congress, are you going to lose America?


Posted in Temp. 1 Comment »

One Response to “Fed Cuts Rate 0.75%, but Dow Drops”

  1. Rebecca H Says:

    Congress, are you going to lose America?

    I think they’ve already lost America. I could be wrong, but we’ll see on election day.

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