Fed Cuts Rate...Again

The Federal Reserve cut a key short-term interest rate by a half-percentage point Wednesday and issued a gloomy outlook for the economy due to continued worries about the ongoing crisis in the financial and credit markets.

The rate cut put the central bank's federal funds rate at 1%. That matched the lowest level for this overnight bank lending rate ever -- the last time it was at 1% was from June 2003 to June 2004.

For the full article at CNN.com click HERE