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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 159.42-1.2%Jan 16 9:30 AM EST
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To: Ruffian who wrote (103102)8/21/2001 2:16:15 PM
From: Kayaker  Read Replies (1) of 152472
 
Fed cuts rates by 25 basis points
By Rachel Koning

For the seventh time this year, the Federal Reserve lowered its key overnight interest rates Tuesday to stimulate the lackluster economy. The central bank's Federal Open Market Committee sliced the federal funds rate by 25 basis points to 3.5 percent, the lowest since 1994. At the same time, the Fed cut the discount rate to 3 percent. The major risk to the economy remains weakness, the FOMC said, a hint that more rate cuts could be coming at the October, November or December meetings.

cbs.marketwatch.com;
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