By the close of trading, the S&P 500 had risen 1.2 per cent from its low for the day. The Fed said in its statement accompanying the decision that ?°the pace of economic expansion will likely slow in the near-term?± as the housing slump intensified. But it added that the second successive rate cut ?°should help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and promote moderate growth over time?±...
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Published: October 31 2007 18:16 | Last updated: November 1 2007 01:01 The US Federal Reserve cut interest rates by a quarter of a point to 4.5 per cent on Wednesday, but warned investors against banking on further monetary easing, sending short-term government bond yields soaring. The central bank??s Federal Open Market Committee signalled that it was shifting to a neutral stance on future rate cuts, saying ?°the upside risks to inflation roughly balance the downside risks to growth?±...
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Federal Reserve Treasury. The Federal Reserve's accountability is to Congress. Legislation requires that the Fed report annually on its activities to the Speaker of the House of Representatives and twice annually on its plans for monetary policy to the banking committees of Congress...	2 / 288
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