By JEANNINE AVERSA, AP Economics Writer
30 Apr 2008
WASHINGTON - Scrambling to shore up the faltering economy, the Federal Reserve cut interest rates to the lowest point in nearly four years Wednesday as the nation teetered on the edge of recession.
Chairman Ben Bernanke led a divided Fed, in an 8-2 vote, in slicing its key rate by one-quarter percentage point to 2 percent.
The folks on Wall Street were "flummoxed" (see below).
Note to investors: 0% is as low as it can go!
Stocks dip with investors flummoxed over Fed
A helpful hint to the rest of us:
These guys aren't any smarter than we are, they just have more money!Have a nice day.