Fed cuts funds rate to lowest level since 1958

The Federal Reserve's 13th rate cut on Wednesday could be the last in a cycle that began in January 2001, analysts said. However, the Fed signalled its intention to avoid the threat of deflation, suggesting rates were set to remain low for some time.

Source: Associated Press

The Federal Reserve, still striving to coax the struggling economy to stronger growth, cut its key interest rate Wednesday to its lowest level since Dwight Eisenhower was president.

While Fed Chairman Alan Greenspan and his