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Biotech / Medical : Biotech Valuation

CRSP 53.33

-0.4%

3:59 PM EST

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To: Biomaven who started this subject	4/18/2001 11:21:40 AM
From: IRWIN JAMES FRANKEL	Read Replies (1) of 52153

Fed cuts another 50 bp Wednesday April 18, 11:00 am Eastern Time Fed Cuts Rates Between Meetings WASHINGTON (Reuters) - The Federal Reserve announced on Wednesday that it was cutting key short-term U.S. interest rates a half percentage point to try to spur a rapidly flagging economy and said the risks to the economy are still to the downside. The Fed action brings the federal funds rate overnight bank lending rate down to 4.5 percent. The more symbolic discount rate on Fed loans to banks will fall to 4.0 percent. The last time the Fed changed rates between scheduled meetings of its policymaking Federal Open Market Committee was on January 3.

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