Fed cuts key interest rate half-point to 1 percent
The Federal Reserve slashed a key interest rate by half a percentage point Wednesday, driving it to a level seen only once before in the last half-century, and the government finally began distributing funds from the billions in the financial rescue package.
Pound climbs as markets bounce after Fed cut
The pound continued to make a small recovery against the dollar this morning,
as the reaction to the Federal Reserve's interest rate cut continued to be
absorbed by markets around the world.