Fed announces key rate cut to 1 percent

Submitted by YONHAP on

WASHINGTON, Oct. 29 (Yonhap) -- The Federal Reserve Wednesday announced that it has decided to lower its target for the federal funds rate 50 basis points to 1 percent.

Yonhap News Summary

Submitted by YONHAP on

The following is the second summary of major stories moved by Yonhap News Agency on Wednesday.

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