16 Aug, 2007 from washingtonpost.com - Robert D. Novak -- Columnist

A Rate Cut on Hold

Before the recent global financial crisis began, the Federal Reserve Board under Chairman Ben S. Bernanke was ready to take a subtle step toward easier money in order to stave off U.S. recession fears. Ready for approval was a new Federal Open Market Committee (FOMC) statement ending the central bank's neutrality and putting it on a bias for an interest rate cut. But international credit scares changed all that.

Robert D. Novak Thu, 16 Aug 2007 00:00:00 EDT

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Source: http://www.washingtonpost.com/wp-dyn/content/article/2007/08/15/AR2007081501974.html?nav=rss_opinion/columns
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