Dissenters to the Fed's Oct. 23 0.5% cut in the discount rate to 1.25% believed, "that the...

|By:, SA News Editor

Dissenters to the Fed's Oct. 23 0.5% cut in the discount rate to 1.25% believed, "that the recent reduction in the primary credit rate and the extraordinary actions taken to recapitalize banks and foster liquidity in financial markets had not had enough time to take effect." (full minutes (.pdf) just released)