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Posted AT 9:21 PM EST on 17/03/08

Fed to cut rates again to contain credit crisis

BARRIE MCKENNA

From Tuesday's Globe and Mail

WASHINGTON — — With echoes of the Great Depression haunting global financial markets, the U.S. central bank is pulling out all the stops to avert a crisis, including what could be a massive one-time rate cut to restore confidence in the world's largest economy. The U.S. Federal Reserve Board, which orchestrated and funded a weekend fire sale of the No. 5 Wall Street broker to rival JPMorgan Chase and Co.

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