Fed Moves to Cut the Discount Rate, Lifts Stocks

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With the sub-prime lending crisis rocking financial markets, the Federal Reserve today cut the so-called "discount rate" by half a percentage point to 5.75%. The Dow Jones, Nasdaq and Standard & Poor's 500 went up. Peter Coy is economics editor for BusinessWeek magazine.

Credits

Guest:
Peter Coy - Bloomberg BusinessWeek

Host:
Warren Olney

Producers:
Frances Anderton, Karen Radziner, Katie Cooper