Global markets were on pins and needles overnight awaiting word from Washington, where the Fed's Open Market Committee was meeting Tuesday morning to decide whether to trim interest rates. A reduction in short-term rates was seen as necessary to keep economic turmoil on financial markets from significantly pulling down the economy. An announcement was expected around 11:15 a.m. PDT.
Rate Wait
Global markets were on pins and needles overnight awaiting word from Washington, where the Fed's Open Market Committee was meeting Tuesday morning to decide whether to trim interest rates. A reduction in short-term rates was seen as necessary to keep economic turmoil on financial markets from significantly pulling down the economy. An announcement was expected around 11:15 a.m. PDT.
