The Federal Reserve, in an emergency meeting on Tuesday, slashed the key rate to 3.5 percent, citing a weakening economic outlook. The move marks the Fed's biggest rate cut — three quarters of a point — in more than 20 years. As fears of a recession looms, the Fed said the rate-cut was to help restore confidence in the U.S. economy. “While strains in short-term funding markets have eased somewhat,...
