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Fed faces pressure to cut rates amid global turmoil
Washington reports pressure on the Federal Reserve to lower US rates as foreign financial crises spook Wall Street. Lawmakers and industry groups urge swift cuts after a Dow drop of 512 points, though analysts warn policy should not respond to abroad crises. The Open Market Committee meets September 29 amid mixed signals on inflation and domestic strength.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Wall Street
Daniel Guido
House
Senate
Joint Economic Committee
Congressional
Jim Saxton
Rn.j
National Association of Manufacturers
Asia
Russia
Dow
Daniel Bachman
WEFA
Eddystone
Fed
Treasury
Larry Summers