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Fed slashes rates by 3/4 point

March 18, 2008

The Fed's smaller than expected rate cuts come a day after it engineered of a rescue of venerable Wall St. firm Bear Stearns, which bet badly on mortgage-backed investments and could no longer meet its trading obligations. Bobbi Rebell reports.The Fed's smaller than expected rate cuts come a day after it engineered of a rescue of venerable Wall St. firm Bear Stearns, which bet badly on mortgage-backed investments and could no longer meet its trading obligations. Bobbi Rebell reports.