World News Tonight (ABC) - 1998-09-29
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Read a transcript preview of “World News Tonight (ABC) - 1998-09-29” from malgent, uploaded on 2025-03-12.
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Language: English (original, YouTube automatic captions)
[0:00] CBS
[0:01] [Music]
[0:03] news on World News Tonight this Tuesday
[0:06] the Federal Reserve board Cuts interest
[0:08] rates for the first time in almost 3
[0:10] years what difference will it make to
[0:13] America and to the world economy what's
[0:16] left of Hurricane George lingers over
[0:19] the South water water everywhere and
[0:23] medical technology on The Cutting Edge
[0:25] artificial muscles they never get tired
[0:28] and they're stronger than the real
[0:36] thing from ABC News world headquarters
[0:39] in New York this is World News Tonight
[0:43] with Peter Jennings good evening we're
[0:45] going to begin with the economy and that
[0:46] involves everyone the Federal Reserve
[0:48] board has tried to give the US economy a
[0:50] little shot in the arm today by reducing
[0:53] short-term interest rates a quarter of a
[0:55] percent to
[0:57] 5.25% it's the first cut in rates in
[1:00] almost 3 years it gets passed on to
[1:02] everyone in one form or another it is
[1:05] not a big cut it is good for some and
[1:08] bad for others first here's ABC's Betsy
[1:11] Stark the Federal Reserve lowered the
[1:14] cost of borrowing money today with two
[1:16] goals in mind to keep businesses
[1:19] spending and growing and to keep
[1:21] consumers buying this is a signal that
[1:24] the name of the game at the Federal
[1:25] Reserve has changed from fighting
[1:27] inflation to maintaining American
[1:30] economic health in the view of a
[1:32] gathering worldwide recession the FED is
[1:35] trying to improve a difficult situation
[1:37] for American businesses before it gets
[1:39] any worse corporate earnings are
[1:42] expected to be down this quarter for the
[1:44] first time since the 1991 recession that
[1:47] makes companies less willing to