To the Point
Exploring Relief for a Terrorized Economy
The Federal Reserve says the attacks of September 11 "significantly heightened uncertainty in an economy that was already weak." The Wall Street Journal reports that in every downturn since World War II, the economy has eventually been revived by lower interest rates. Accordingly, the Federal Reserve dropped short-term rates from 3% to 2.5%. That's their lowest point since the administration of John F. Kennedy forty years ago. Today we'll hear differing views from inside and outside Congress on whether the usual tools will do the job. Newsmaker: Greyhound Bus Incident - The Greyhound bus line suspended national service this morning after a gruesome incident in Manchester, Tennessee. Several people were killed when a bus crashed after a passenger slit the throat of the driver. Service was resumed after the FBI determined it was safe to do so. Peter Pantuso is President of the American Bus Association. Reporter's Notebook: NATO Evidence and Rumsfeld Visit to Middle East - Defense Secretary Donald Rumsfeld told reporters that it is intelligence information, not military power, that is decisive in the campaign against terror. Yet, the military buildup continues. And why is he visiting Saudi Arabia, Oman, Egypt and Uzbekistan? Neil King, Diplomatic Correspondent for The Wall Street Journal speaks with us.
By Warren Olney • • 1 min readThe Federal Reserve says the attacks of September 11 "significantly heightened uncertainty in an economy that was already weak." The Wall Street Journal reports that in every downturn since World War II, the economy has eventually been revived by lower interest rates. Accordingly, the Federal Reserve dropped short-term rates from 3% to 2.5%. That's their lowest point since the administration of John F. Kennedy forty years ago. Today we'll hear differing views from inside and outside Congress on whether the usual tools will do the job.
Greyhound Bus Incident - The Greyhound bus line suspended national service this morning after a gruesome incident in Manchester, Tennessee. Several people were killed when a bus crashed after a passenger slit the throat of the driver. Service was resumed after the FBI determined it was safe to do so. Peter Pantuso is President of the American Bus Association.
NATO Evidence and Rumsfeld Visit to Middle East - Defense Secretary Donald Rumsfeld told reporters that it is intelligence information, not military power, that is decisive in the campaign against terror. Yet, the military buildup continues. And why is he visiting Saudi Arabia, Oman, Egypt and Uzbekistan? Neil King, Diplomatic Correspondent for
The Wall Street Journal speaks with us.