A trader works on the floor of the New York Stock Exchange

 
A trader works on the floor of the New York Stock Exchange
A trader works on the floor of the New York Stock Exchange, September 18, 2007. The U.S. Federal Reserve on Tuesday slashed benchmark U.S. interest rates by a half-percentage point in a bold bid to buffer the economy from a housing slump and related financial market turbulence. The unanimous decision by the central bank's Federal Open Market Committee took the overnight federal funds rate down to 4.75 percent, its lowest level since May of last year. The Fed also lowered the discount rate it charges for direct loans to banks by a half-point to 5.25 percent. REUTERS/Brendan McDermid (UNITED STATES)