Breaking News Alert The New York Times Wednesday, October 29, 2008 -- 2:20 PM ET ----- Fed Cuts Key Interest Rate By a Half-Point, to 1% The Federal Reserve's policy-setting committee reduced its benchmark overnight interest rate, the Federal Funds target rate, by one-half point, to 1 percent. The Fed said the move was intended to address a marked slowing in economic activity in the United States and abroad, and said it expected inflation pressures to ease. Read More: http://www.nytimes.com/?emc=na ----- Now get the New York Times Breaking News to your mobile phone. Sign up for the alerts by texting NEWSALERTS to 698698 (NYTNYT). ----- About This E-Mail You received this message because you are signed up to receive Breaking News Alerts from NYTimes.com. To unsubscribe, change your e-mail address or to sign up for daily headlines or other newsletters, go to: http://www.nytimes.com/email NYTimes.com 620 Eighth Ave. New York, NY 10018 Copyright 2008 The New York Times Company
-- Posted By Breaking News to Break News at 10/29/2008 08:23:00 PM
