The Fed Lowers Interest Rates

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Despite strains in the housing and credit markets, the economy picked up speed this summer, growing at 3.9%, the fastest rate in one and a half years. Nonetheless, the Federal Reserve was widely expected to lower interest rates at today's meeting and it did—by.25% to 4.5%. We find out why from Peter Coy, economics editor at BusinessWeek.

Credits

Guest:
Peter Coy - Bloomberg BusinessWeek

Host:
Warren Olney

Producers:
Katie Cooper, Andrea Brody, Christian Bordal