Washington (AP) The Fed's move to cut interest rates this week may not be its last this year.
Yesterday's half-point cut in the federal funds rate to 1 percent puts it at a level seen only once before in the last half-century.
The rate is that which banks charge each other for overnight loans, but is usually reflected quickly in other banking products.
The fed could cut rates again when it meets in December, but such a move comes with some risk.
Some economists are leery of going too low, too quickly. If the central bank leaves the rate untouched, it would save an important monetary tool in case the economic trouble gets worse.
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