Fed Cuts Rates to 40-Year Low After Attacks
The Federal Reserve reduced the federal funds rate by 50 basis points to 2.5 percent, its lowest since May 1962, in a move to offset post-September 11 economic shocks. The prime lending rate dropped to 5.5 percent, a level last seen in October 1972, while the discount rate fell to 2 percent. Wall Street rallied as the Dow rose 113.76 to 8,950.59, and analysts expect further cuts ahead.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
John F Kennedy
Bush
Fed
Wall Street
Interest Rate Cut At A Glance
The Federal Reserve reduced the federal funds rate by 0.5 percentage points to 2.5 percent, the lowest since 1962. Major banks followed by lowering their prime rate to 5.5 percent.
MENTIONED IN THIS ARTICLE
Federal Reserve
Federal Funds
Fostering a can do attitude at the A B L E Center
The A B L E Center for Independent Living in Odessa, founded in 1993, helps people overcome daily physical challenges and gain independence. Executive director Jeri Kounce cites ADA impact on access and inclusion while noting attitudes remain a barrier.
MENTIONED IN THIS ARTICLE
For
A.B.L.E
Area Base For
Center For
Independent Living
Odessa
Jeri Rounce
Kounce
A.B.L.E. Center
Rounce
Senate OKs 345 Billion Defense Bill
The Senate approved a 345 billion defense spending bill for fiscal 2002 by a 99 to 0 vote, authorizing Defense Department funding and Energy Department military work. The nonpartisan measure proceeds despite Republican objections as the nation prepared for war.
MENTIONED IN THIS ARTICLE
Washington
Senate
Defense Department
Energy Department
MANO Eyes Buyout Of Odessa Small Business Loans
The Mexican American Network of Odessa seeks to purchase the city run federally funded small business loan program. HUD previously ordered MANO to relinquish control amid missing paperwork. There are 19 loans totaling $270,000 to $350,000 outstanding, with MANO aiming to take over and repay HUD.
MENTIONED IN THIS ARTICLE
Odessa
MANO
Richard Morton
Joe Torres
US Department of Housing and Urban Development
HUD
Craddick Seeks Speaker of Texas House Vote
State Rep. Tom Craddick announces his bid to become speaker of the Texas House. A 33 year veteran, he says he can unite Republicans and Democrats to reflect Texas’s diverse population and lead with every member’s strengths. He spoke to about 50 at Midland Center.
MENTIONED IN THIS ARTICLE
Tom Craddick
Midland
House of Representatives
House
Craddick
Midland Center
Texas
Also Mentioned on This Page
Source
The
By Sharon Denning
Paul Zoeller
Criselda Dominguez
A.b.le
Texas Tech University Health Sciences Center
Laura Hawthorne
Johnnie Mae Young
Florida
Katherine Harris
Congress
Elena Daete
Omer
HUD Audit
Fom
Nascar
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