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Breaking News
Fed Cuts Interest Rates
Aired January 3, 2001 - 1:23 p.m. ETTHIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
NATALIE ALLEN, CNN ANCHOR: Again, breaking new that we just told you about, in a surprise move -- surprise by some -- some said it might have happened -- the Fed has cut interest rates earlier than expected. They weren't expected to meet for another several weeks. But the Federal Reserve said it had cut a key short-term interest rate by a half percentage point, and said it was prepared to cut them further if needed to prevent the economy from slowing too much.
We'll continue to follow this story, and we'll talk with a guest coming up about this dramatic move by the Fed. And so we'll stay on top of that.
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