Investors get out their crystal balls
The Fed meets tomorrow to decide what to do with its benchmark interest rate, which affects what banks, companies and people pay for loans. A McClatchy story says Wall Street expects another quarter-point cut, "but some analysts question whether that's enough."
The Fed surprised financial markets Sept. 18 by making a larger-than-expected half-point cut to its benchmark federal funds rate, the rate banks charge each other for overnight loans. It serves as the basis for a wide array of lending rates in the broader economy.
The Fed funds rate is 4.75 percent now.
