‘By Any Means’ Is Torture in Every Sense
By ALEX ZDAN
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This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
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With Congress unable to pass the $700 billion bailout, it is likely that the next stop in the race to quell the market chaos will be the Federal Reserve. Expectations are rising that the Federal Open Market Committee could cut its benchmark lending rate at its October 29 meeting, while some are predicting it could institute an emergency rate-cut as soon as next week. Interest rate futures listed on the Chicago Board of Trade are pricing in a 50% chance that the Fed will slash its key rate to 1.5% in October; on Friday, they were pricing in a 32% chance.
By ALEX ZDAN
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By MATTHEW RICE
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By ROSS ANDERSON
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By JOSEPH CURL
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By JOSH HAMMER
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By DAVID HARSANYI
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By ALEXANDER LARMAN
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By DAVID JONES
|With Congress unable to pass the $700 billion bailout, it is likely that the next stop in the race to quell the market chaos will be the Federal Reserve. Expectations are rising that the Federal Open Market Committee could cut its benchmark lending rate at its October 29 meeting, while some are predicting it could institute an emergency rate-cut as soon as next week. Interest rate futures listed on the Chicago Board of Trade are pricing in a 50% chance that the Fed will slash its key rate to 1.5% in October; on Friday, they were pricing in a 32% chance.
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