Column: Fed interest-rate cut has questionable timing

01/23/2008 | Bloomberg

The Federal Reserve's interest-rate cut Tuesday of three-quarters of a percentage point amounts to the central bank's trying to make up for a slow reaction with size, Caroline Baum writes in a Bloomberg column. The cut was the biggest since the Fed started focusing on the overnight interest rate in the mid-1980s. "Congress, which has oversight of the Fed, is apt to question Bernanke not so much about what he did but when he did it," Baum said.

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