US : Fed cuts rates to 4.5%
The Federal Reserve lowered the target for a critical short-term interest rate by a quarter of a point Wednesday, citing continued concerns about weakness in the housing market.
But the Fed indicated that it is also worried about inflation, a possible sign that the central bank may not cut rates again at its next meeting in December.
The widely-expected move comes on the heels of a half-point rate cut by the central bank in September and leaves the federal funds rate at 4.5 percent, its lowest level since January 2006.
