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Fed Cuts Interest Rates by a Half-Point

With economic growth grinding to a halt, the Federal Reserve cut interest rates again Wednesday, this time by half a percentage point.

Just before it did, the Commerce Department reported some dismal growth figures for the end of last year. The economy grew just six-tenths of a percent in the last quarter of 2007.

The Fed hopes its aggressive moves will help avoid a full blown recession.

Copyright 2023 NPR. To see more, visit https://www.npr.org.

Chris Arnold
NPR correspondent Chris Arnold is based in Boston. His reports are heard regularly on NPR's award-winning newsmagazines Morning Edition, All Things Considered, and Weekend Edition. He joined NPR in 1996 and was based in San Francisco before moving to Boston in 2001.