US - Tuesday 15 May's interest rate cut of 0.5% by the Federal Reserve was the fifth consecutive half-point cut in short-term interest rates. Does this represent the end of the Federal Reserve's dramatic and unprecedented efforts to prop up the weakening US economy?
The cut would bring the cumulative easing of monetary policy to 250 basis points in five months, and take the federal funds rate to 4 per cent - its lowest level since 1994.
With evidence that some of the most-feared scenarios of ec
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