Fed cuts rates for 11th time

Federal Reserve policymakers are meeting today and are expected to cut interest rates for an eleventh time this year. A Fed spokesman told Reuters a decision to cut rates by a quarter point is expected to be announced at about 2:15 p.m. Analysts widely expect the Fed to cut interest rates again as it tries to revive the U.S. economy, which has been in recession since March. Expectations of another

Federal Reserve policymakers are meeting today and are expected to cut interest rates for an eleventh time this year. A Fed spokesman told Reuters a decision to cut rates by a quarter point is expected to be announced at about 2:15 p.m.

Analysts widely expect the Fed to cut interest rates again as it tries to revive the U.S. economy, which has been in recession since March. Expectations of another rate cut were reinforced by Friday's jobs report, which showed U.S. unemployment rising to a six-year high.

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