Fed cuts by 50, but doubts gather
MARKET NEWS
WASHINGTON DC -- The US Federal Reserve cut interest rates by 50 basis points last week, but some pundits now believe the central bank may be powerless to stop the US economy sliding into recession.
The full effects of recent events in the US have not yet been felt, in spite of a raft of gloomy economic data, but some analysts believe the combined effects of September 11 and the ensuing anthrax outbreak may have dealt an unfixable blow to consumer confidence.
Consumer confidence is perhaps the key
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