Federal Reserve makes biggest cut in nearly 24 years...

More information on todays cut:

Fed slashes key rate to 3.5%
Citing weakening economic outlook, Federal Reserve makes biggest cut in nearly 24 years - three quarters of a point.
By Paul R. La Monica, CNNMoney.com editor at large
January 22 2008: 12:02 PM EST

Fed's Emergency Action
Key rates cut 75 basis points
Biggest cuts since Oct. 1984
More cuts expected Jan. 30

NEW YORK (CNNMoney.com) -- The Federal Reserve slashed two key interest rates by three-quarters of a percentage point Tuesday following an unscheduled meeting, citing continued concerns about a weakening economy and turmoil in the financial markets.
The Fed lowered its federal funds rate, which impacts how much consumers pay on credit card debt, home equity lines of credit and auto loans, to 3.5 percent from 4.25 percent.

FULL ARTICLE
http://money.cnn.com/2008/01/22/news/economy/fed_rates/index.htm?eref=rss_topstories