Industry News

Fed official advocates ‘nimble’ response to turmoil

Investors see increased likelihood of Dec. 11 interest-rate cut
Published on Nov 28, 2007

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by CareyBot

Stocks soared Wednesday after Federal Reserve Vice Chairman Donald Kohn said the Fed must be “nimble” in responding to turmoil in financial markets to preserve access to loans for consumers and businesses. Investors interpreted Kohn’s comments as a sign that ...