17 May 2001, 22:39  ECONOMY UPDATE: Fed voted unanimously April 18 to cut rates

Washington, May 17 (BridgeNews) - Federal Reserve policy-makers voted unanimously in a special April 18 conference call to cut the key federal funds rate target 50 basis points, according to a written summary of the meeting released Thursday. The vote was unanimous even though "a few" members "preferred to wait" until the Fed's scheduled May 15 policy meeting to ease, the Fed said.

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