Some expect emergency cut in interest rates from Fed

Market observers are speculating that deteriorating market conditions will force the Federal Reserve to make an emergency cut in interest rates, just days after the central bank reaffirmed its stance to continue fighting inflation. Federal Reserve Chairman Ben S. Bernanke's hard-line stance against a rate cut has drawn both praise and criticism. On Monday, the Federal Reserve and other central banks scaled back cash injections they had been making to calm credit markets.

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