Search
Media & Resources
Benchmark rate lowered for eighth time, to record 8%.
Concessions provide more time to reduce deficit in exchange for deeper cuts.
At June FOMC meeting, a few policy makers saw need for Fed to do more.
Government faces setbacks in attaining its deficit goals.
Fourth austerity package in seven months raises sales tax to 21% from 18%.
Overtime, cheaper gas and lower debt service obligations should all support spending.