Fed met on rates twice in wake of attacks

US - The U.S. Federal Reserve's Open Market Committee held two telephone conferences in the aftermath of the 11 September attacks in New York and Washington, agreeing unanimously on 17 September to cut interest rates sharply, according to minutes released yesterday Thursday 4 October.

"These actions were taken against the backdrop of heightened concerns and uncertainty created by the recent terrorist attacks and their potentially adverse effects on asset prices and the performance of the

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