Parry Says Fed May Cut Funds Rate to 0.5% by Year End
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Parry Says Fed May Cut Funds Rate to 0.5% by Year End
Robert Parry, former president of the Federal Reserve Bank of San Francisco, and Jeffrey Frankel, a professor at Harvard University and member of the U.S. panel that determines when economic recessions and expansions begin, talk with Bloomberg's Kathleen Hays about the contraction in third-quarter U.S. growth, and the outlook for the economy and Fed monetary policy. The economy suffered its biggest decline since 2001, gross domestic product contracted at a 0.3 percent pace from July to September, according to a Commerce Department report today in Washington. (Source: Bloomberg)
Bloomberg | October 30, 2008
